The latest in the Anil Amabni case- The Supreme Court of India has observed a “degree of reluctance” in the conduct of investigating agencies probing alleged financial irregularities and fund syphoning involving entities linked to Anil Ambani, including Reliance Home Finance, according to ANI.
According to PTI, the court was hearing a plea filed by former bureaucrat EAS Sarma seeking a court-monitored probe into alleged loan frauds exceeding Rs 40,000 crore by entities of the Anil Dhirubhai Ambani Group.
While hearing a PIL, the Court has thus directed that the investigation carried out by the probe agencies (ED and CBI) must be transparent, fair and time-bound, according to ANI.
The bench, led by Chief Justice of India Surya Kant, noted that despite serious allegations flagged in regulatory findings and submissions before the court, the pace and approach of the investigation raised concerns.
“But your investigating agencies, the way they have shown reluctance, should come out with a time-bound, transparent and fair investigation. Your investigation must inspire confidence not only of the court but of every stakeholder,” the court said.
Anil Ambani entity-linked probe: ED forms SIT, CBI appoints transaction auditors
According to ANI, during the hearing, Solicitor General Tushar Mehta informed the Court that the Enforcement Directorate (ED) has constituted a Special Investigation Team (SIT) comprising officers from different investigating agencies, including deputy directors and assistant directors, along with forensic auditors to examine the transactions.
It was further submitted that the Central Bureau of Investigation (CBI) has appointed transaction auditors and that arrests have been made in the course of the investigation. The Court also noted that the status report filed by ED and CBI indicates that multiple cases are under probe, including those involving the role of public servants and that details have been sought from financial institutions.
Senior Advocate Prashant Bhushan, appearing on behalf of the PIL petitioner, however, contended that despite findings in the Securities and Exchange Board of India (SEBI) report alleging fraudulent schemes and siphoning of funds by Anil Ambani and related entities, no substantial action, including arrests by the CBI, had been undertaken.
SC asks agencies to ‘join hands’
In response, the Solicitor General submitted that four persons have been arrested so far and has attached assets worth Rs 15,000 crore, according to PTI.
“Arrests have been made. We cannot make random arrests,” the solicitor general said. “We cannot direct (them) whom to arrest; but the investigating agencies, the way they have shown reluctance, is not acceptable. They should say in a time-bound manner as to what has been found. Your investigation should reveal what has been done and must inspire confidence not only in us, but everybody,” the CJI said, according to PTI.
According to PTI, the bench referred to certain facts disclosed in the fresh status reports of the probe agencies and said the CBI and the ED are presently probing seven and eight FIRs, respectively. It also said that a loan amount of more than Rs 3,000 crore has been apparently settled by paying Rs 26 crore. The bench said it is estimated that the total fraud amount is around Rs 73,000 crore.
Taking note of the submissions, the Court observed that investigating agencies must “join hands” to ascertain the truth, particularly where allegations point to possible connivance with authorities. It reiterated that the probe must be conducted in a dispassionate and independent manner and be completed within a time-bound framework.
According to ANI, SGI Mehta assured the Court that no stone would be left unturned in uncovering the truth.
SC asks financial institutions to assist ED
In its order, it noted that in compliance with its earlier order, the ED has constituted an SIT to investigate the Reliance-related cases. The SIT comprises senior officers and is supported by forensic auditors. It noted the CBI’s status report, which states that several cases are under investigation, including those involving public servants, and that substantial financial transactions are under scrutiny. The Court has directed all concerned financial institutions to extend full cooperation to the ED with respect to the investigation in the case.
The matter has been posted for further hearing after four weeks.
CBI questioned Anil Ambani
CBI had questioned Anil Ambani earlier on March 19 and March 20 in connection with a Rs 2,929.05 crore bank fraud case linked to Reliance Communications
The CBI questioned two former Group Managing Directors of the Reliance ADA Group — Gautam Doshi and Sateesh Seth — in the same case.
The CBI registered the FIR on August 21, 2025, based on a complaint from State Bank of India (SBI). After the FIR, additional complaints were also received from several banks, including Punjab National Bank, Bank of India, Union Bank of India, UCO Bank, Central Bank of India, IDBI Bank, and Bank of Maharashtra.
With the inputs from PTI and ANI