Anil Ambani-ADAG alleged bank fraud case: Supreme Court orders SIT probe; criticises delay by ED, CBI

The Supreme Court orders the constitution of a Special Investigation Team (SIT) in the Anil Ambani/Anil Dhirubhai Ambani Group (ADAG) alleged bank fraud ‘scam’ case.

Also read | Files expose alleged links between Epstein, Anil Ambani and Delhi ‘leadership’

The Supreme Court said, “The Central Bureau of Investigation (CBI) must look into the nexus and conspiracy between the bank officials and the accused,” adding that the CBI has already delayed looking into the allegations, and no further delay would be tolerated.

Also read | Supreme Court issues fresh notices to Anil Ambani, Reliance ADA Group on PIL alleging banking, corporate fraud

Further, the Supreme Court said the investigation should be held in a fair and dispassionate manner. Directing the CBI to submit a status report within four weeks, the SC said it would monitor the case.

Also read | Bombay High Court stays fraud notices to Anil Ambani; questions banks’ compliance 

Advocate Prashant Bhushan said that since the Supreme Court is now monitoring the case, the promoter may flee the country. Senior advocate Mukul Rohatgi stated that these are baseless allegations. Mr. Bhushan said that once the promoter is out of the country, what good a statement would be.

Solicitor General Tushar Mehta, appearing for the CBI and the Enforcement Directorate (ED), assured that no preventive action would be spared to ensure the smooth conduct of the investigation.