Supreme Court Mandates Fair and Prompt Probe into ADAG and Anil Ambani Banking Fraud Allegations
The Supreme Court of India has issued a significant directive to the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), ordering them to conduct a fair, prompt, and dispassionate investigation into allegations of massive banking and corporate fraud involving the Anil Dhirubhai Ambani Group (ADAG), its chairman Anil Ambani, and associated group companies. This move underscores the judiciary's commitment to ensuring accountability in high-profile financial cases.
Court Seeks Fresh Status Reports and Directs SIT Formation
A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi has called for fresh status reports to be submitted within four weeks from both the CBI and the ED. These reports are expected to detail the progress made in the ongoing investigations against Ambani and the ADAG firms. The bench expressed concern over the time already taken by the probe agencies to initiate the investigation, emphasizing the need for expediency.
In a crucial development, the bench has asked the ED to constitute a Special Investigation Team (SIT) comprising senior officers to spearhead the probe into ADAG and other entities involved. This step aims to enhance the thoroughness and efficiency of the investigation, ensuring that all aspects of the alleged fraud are meticulously examined.
Legal Proceedings and Assurances from Anil Ambani's Counsel
The bench took note of the appearances made by Anil Ambani and ADAG through their senior lawyers, Mukul Rohatgi and Shyam Divan. It granted them a four-week period to file their responses to the Public Interest Litigation (PIL) that has brought this case to the forefront. During the proceedings, Rohatgi opposed a submission seeking a court direction to prevent Ambani from fleeing the country, assuring the bench that he would remain in India.
Rohatgi stated, "Ambani will not leave without the leave of this court," providing a firm commitment to the judiciary. Solicitor General Tushar Mehta, representing the probe agencies, added that various lookout circulars have been issued to ensure that the concerned individuals do not leave the country, reinforcing the measures in place to secure their presence during the investigation.
Background of the Case and PIL Allegations
Earlier, the bench had directed the CBI and ED to file status reports in a sealed cover, highlighting the sensitive nature of the case. On November 18, notices were issued to the Centre, CBI, ED, Anil Ambani, and ADAG in response to the PIL. The bench, however, emphasized that this was the last opportunity for them to appear and file their responses, indicating the court's impatience with delays.
The PIL, filed by EAS Sarma, alleges systematic diversion of public funds, fabrication of financial statements, and institutional complicity across multiple entities within the Anil Ambani-led Reliance ADAG. These serious accusations have prompted the Supreme Court to take a proactive stance, ensuring that the investigation is conducted with the utmost integrity and transparency to uphold public trust in the financial system.
