SC orders Sealed CBI, ED Reports on Rs 1.5 Lakh Crore Anil Ambani Group Bank Fraud Claims

On Friday, in a significant intervention into allegations of large-scale banking fraud, the Supreme Court sought sealed status reports from the Central Bureau of Investigation and the Directorate of Enforcement on their ongoing inquiries into alleged irregularities involving companies of the Anil Dhirubhai Ambani Group, signalling heightened judicial scrutiny over claims of massive diversion of public funds.

The direction came in a Public Interest Litigation filed by former Union Secretary E.A.S. Sarma, alleging that debts exceeding Rs 1.50 lakh crore owed by group companies were written off while funds were siphoned through shell entities and layered transactions.

Appearing for the petitioner, Advocate Prashant Bhushan contended that despite multiple forensic audits flagging serious financial misconduct, the ongoing investigations were narrow in scope and failed to examine the role of bank officials and public servants. He further pointed out that the Ambani group entities and their promoter had not entered an appearance despite prior notice, even as media coverage indicated awareness of the proceedings.

The Bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi noted the non-appearance of the respondents but granted them a final opportunity, directing fresh service of notice through the Registrar General of the Bombay High Court.

On the investigative front, the Court acceded to the request for status reports, taking note of submissions by Solicitor General Tushar Mehta that the CBI FIR stemmed from a forensic audit by the State Bank of India, which had identified fund diversion.

The reports from the CBI and ED were ordered to be filed in sealed cover, and the matter was adjourned for further consideration.

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