Supreme Court Demands Swift Investigation into Ambani Fraud Allegations

The Supreme Court has directed the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to conduct a comprehensive and expedited investigation into alleged substantial banking and corporate fraud linked to the Anil Dhirubhai Ambani Group (ADAG), led by Anil Ambani.

Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi have requested updated status reports from both agencies within four weeks concerning the progress of their investigations involving Ambani and ADAG. Amid concerns over delayed investigation commencement, the bench instructed the ED to establish a Special Investigation Team (SIT) comprising senior officers to examine the matter thoroughly.

Representations on behalf of Anil Ambani and ADAG were made by senior lawyers Mukul Rohatgi and Shyam Divan, who secured a four-week timeline to respond to the Public Interest Litigation (PIL). Assurances against Ambani's flight risk were highlighted, alongside existing lookout circulars. The PIL brought forward by EAS Sarma claims widespread diversion of public funds and financial misconduct within Anil Ambani-led entities.