The Supreme Court has directed the Enforcement Directorate (ED) to constitute a Special Investigation Team (SIT) comprising senior officers to investigate Anil Dhirubhai Ambani Group (ADAG) and related entities, as per a report by PTI.
According to a PTI report, the Supreme Court has directed the CBI and the ED to conduct a “fair”, “prompt” and dispassionate probe into alleged massive banking and corporate fraud involving the ADAG, its promoter Anil Ambani and the group companies.
A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi sought fresh status reports in four weeks from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) on the progress made by them in the ongoing investigation against Anil Ambani and ADAG firms.
Observing that the probe agencies have already taken time to start the probe, the bench asked the ED to constitute a SIT.
SC grants Anil Ambani, ADAG four weeks to respond to PIL
As per PTI, the bench took note of the appearances made by Anil Ambani and ADAG through senior lawyers Mukul Rohatgi and Shyam Divan. The Supreme Court has granted them four weeks time to file responses to the PIL.
During the hearing, Anil Ambani’s lawyer, Rohatgi opposed the submission seeking a court direction to ensure that Ambani does not flee the country. He assured the bench that Anil Ambani will remain in India and will not leave without the leave of this court.
Rohatgi opposes travel restraint, assures court of Ambani’s presence in India
Solicitor General Tushar Mehta, appearing for the probe agencies, said there are various look out circulars issued to ensure that the person concerned does not go out of the country. Earlier, the bench had asked the CBI and the ED to file status reports in a sealed cover in the case.
On November 18, the bench issued notices to the Centre, CBI, ED, Anil Ambani and ADAG on the PIL. The bench, however, said it was granting them one last opportunity to appear and file their responses in the case. The PIL filed by EAS Sarma alleged systematic diversion of public funds, fabrication of financial statements and institutional complicity across multiple entities of the Anil Ambani-led Reliance ADAG.
Anil Ambani Group stocks in focus
The Anil Ambani Group stocks are up smartly in trade today. Reliance Communication is up nearly 5%, Reliance Power and Reliance Infra are over 2% each in intra-day trade.
With the inputs from PTI