SC seeks status reports in PIL alleging major fraud by Anil Ambani group

The Supreme Court on Friday issued fresh notices to industrialist Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) in connection with a public interest litigation seeking a court-monitored investigation into alleged large-scale banking and corporate fraud involving the group.

A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi directed the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to submit status reports on their ongoing probes in sealed covers within 10 days. The agencies were represented in court by Solicitor General Tushar Mehta.

The court noted that notices had already been issued to Ambani and ADAG in the matter and said it was granting them a final opportunity to appear and file their responses. It asked the Registrar General of the Bombay High Court to ensure proper service of notices and submit a compliance report.

The petition has been listed for further hearing after 10 days.

The PIL was filed by former Union secretary E A S Sarma, represented by advocate Prashant Bhushan. Notices were first issued in the case on 18 November last year to the Centre, the CBI, the ED, Ambani and ADAG.

During the hearing, Bhushan alleged that the investigative agencies were failing to examine the role of banks and their officials in what he described as “probably the largest corporate fraud in India’s history”. He argued that while an FIR was registered in 2025, the alleged wrongdoing dated back to 2007–08.

Bhushan urged the court to direct the CBI and ED to clarify the scope of their investigations, contending that they were not adequately probing alleged collusion by lending institutions and their officials.

The PIL accuses entities linked to the Anil Ambani-led ADAG of systematically diverting public funds, falsifying financial statements and benefiting from institutional complicity. It further claims that the FIR registered by the CBI on 21 August, along with related ED proceedings, addresses only a limited portion of the alleged financial irregularities.

The Supreme Court will take up the matter again after receiving the agencies’ status reports and responses from the parties concerned.

With PTI inputs