New Delhi, February 4, 2026 — In a significant development in the high-profile alleged bank fraud case involving the Anil Dhirubhai Ambani Group (ADAG), the Supreme Court on Wednesday sharply criticised the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) for delays in their probes. The Court described the ED's investigation into the alleged over ₹40,000 crore bank loan fraud as marked by "unexplained delay," while noting that the CBI had registered only a single FIR despite multiple complaints from various banks.
The bench, comprising Chief Justice Surya Kant and Justice Joymalya Bagchi, heard a public interest litigation (PIL) seeking a court-monitored probe into the alleged large-scale banking and corporate fraud involving ADAG companies, promoter Anil Ambani, and related entities. The case stems from accusations of systematic diversion of public funds, siphoning of loans through shell companies, fabrication of financial statements, and institutional complicity, with forensic audits dating back to 2020 highlighting irregularities.
During the hearing, senior advocate Mukul Rohatgi, representing Anil Ambani, appeared before the Court along with senior advocate Shyam Divan for ADAG. In response to a plea by advocate Prashant Bhushan (for the petitioner) to restrain Ambani from leaving the country—citing past instances of economic offenders fleeing abroad—Rohatgi gave an undertaking on behalf of his client that Anil Ambani would not leave India without prior permission from the Supreme Court
The Court directed the investigative agencies to conduct a "fair," "prompt," and "dispassionate" probe, emphasizing that no further delays would be tolerated. It specifically instructed the ED to constitute a Special Investigation Team (SIT) comprising senior officers to expeditiously examine the allegations against ADAG, Anil Ambani, and associated companies. The CBI was also asked to advance its investigation to a logical conclusion without unnecessary procrastination.
The bench granted four weeks to Anil Ambani and ADAG to file their detailed responses to the PIL. Earlier hearings in January 2026 had seen the Court issue fresh notices to the parties after initial non-appearance and seek sealed status reports from the CBI and ED on their ongoing probes.
The matter, linked to major allegations involving entities like Reliance Communications (RCom), Reliance Home Finance, and others, has seen attachments of assets worth thousands of crores by the ED in related money laundering cases. The Supreme Court's intervention underscores growing judicial scrutiny over the pace and thoroughness of probes into major corporate frauds involving public sector banks.
The case is expected to be listed again after the filing of responses, with the Court closely monitoring progress to ensure accountability in what has been described as one of India's largest alleged banking frauds.
For More News Updates Follow Us On www.tconews.in
