The Supreme Court of India on Wednesday issued a stern directive to the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), ordering a “fair, prompt, and dispassionate” investigation into allegations of massive banking and corporate fraud involving industrialist Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG).
A three-judge bench, headed by Chief Justice Surya Kant and comprising Justices Joymalya Bagchi and Vipul M Pancholi, expressed the need for urgency in the matter, noting that the probe agencies had already taken considerable time to initiate proceedings.
In a significant move to streamline the investigation, the bench specifically directed the Enforcement Directorate (ED) to constitute a Special Investigation Team (SIT). This team, consisting of senior officers, will be tasked with probing the financial dealings of ADAG and associated entities.
The court has mandated both the CBI and the ED to submit fresh status reports within four weeks, detailing the progress made in the ongoing investigations.
During the proceedings, concerns were raised regarding the possibility of Anil Ambani leaving the country. Senior Advocate Mukul Rohatgi, representing Ambani, opposed any specific court order to prevent travel, assuring the bench that his client would remain in India.
“He [Ambani] will not leave without the leave of this court,” Rohatgi stated, reinforcing that the industrialist intends to cooperate with the legal process.
Solicitor General Tushar Mehta, appearing for the central probe agencies, informed the court that several Look Out Circulars (LOCs) are already in place to ensure that the concerned individuals do not exit the country during the investigation.
The judicial intervention follows a Public Interest Litigation (PIL) filed by EAS Sarma. The petition alleges a systematic diversion of public funds, the fabrication of financial statements, and “institutional complicity” across various entities under the Anil Ambani-led Reliance ADAG.
The bench had previously issued notices to the Union Government, the CBI, the ED, Anil Ambani, and ADAG on November 18. While granting a “last opportunity” for the respondents to file their formal responses, the court emphasized that the investigation must now proceed without further delay.
