SC asks CBI, ED to conduct fair, speedy probe against ADAG, companies in banking fraud case

New Delhi: The Supreme Court on Wednesday directed the CBI and the ED to conduct a “fair”, “prompt” and impartial probe into the alleged massive banking and corporate fraud involving Anil Dhirubhai Ambani Group (ADAG), Anil Ambani and group companies. A bench comprising Chief Justice Suryakant and Justices Joymalya Bagchi and Vipul M Pancholi sought fresh status reports from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) in four weeks on the progress made by them in the ongoing probe against Ambani and ADAG companies. Observing that the investigating agencies have already taken time to initiate the probe, the bench asked the ED to constitute a SIT comprising senior officials to probe the ADAG and others. The bench noted the submissions made by senior advocates Mukul Rohatgi and Shyam Diwan by Anil Ambani and ADAG and gave them four weeks time to file replies on the PIL. Rohatgi opposed the plea seeking a court direction to ensure that Ambani does not flee the country and assured the bench that he would remain in India. He said that Ambani will not go without taking leave of this court. Solicitor General Tushar Mehta, appearing for the investigating agencies, said that various look-out circulars have been issued to ensure that the concerned person does not leave the country. Earlier, the bench had asked the CBI and ED to file a status report in the case in a sealed cover. On November 18, the bench issued notices to the Centre, CBI, ED, Anil Ambani and ADAG on the PIL. However, the bench said it was giving them a last chance to appear in the case and file their replies. The PIL filed by EAS Sarma alleged systematic diversion of public funds, fabrication of financial statements and organizational entanglement in multiple entities of Anil Ambani-led Reliance ADAG.