Supreme Court Seeks Replies On PIL Alleging Massive Fraud By Reliance ADA Group
Court seeks responses from Centre, CBI, ED, Anil Ambani in banking scam case.
The Supreme Court on Tuesday issued notices to the Union Government, Central Bureau of Investigation (CBI), Enforcement Directorate (ED), Anil Ambani, and several entities of the Reliance ADA Group in response to a public interest litigation seeking a court-monitored investigation into allegations of large-scale banking and corporate fraud involving diversion of public funds.
A bench comprising Chief Justice B R Gavai and Justice K Vinod Chandran directed all respondents to submit their replies within three weeks after hearing submissions by senior advocate Prashant Bhushan, who appeared for the petitioner, former Union Secretary E A S Sarma. The matter has been posted for further hearing thereafter.
The PIL contends that existing probes initiated through a CBI FIR dated August 21, 2025, and related ED proceedings address only a limited portion of the alleged irregularities, while systematically excluding scrutiny of the role played by public sector banks, their senior officials, statutory auditors, and regulatory authorities in facilitating the purported fraud.
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Bhushan submitted that forensic audit reports and observations made by the Bombay High Court in earlier proceedings have already established prima facie evidence of fund diversion, fabrication of financial statements, and evergreening of loans, yet no meaningful investigation has been directed against the institutional actors allegedly complicit in the violations.
The petition seeks specific directions for the CBI and ED to file comprehensive status reports and, if necessary, the constitution of a Special Investigation Team under direct court supervision to ensure an impartial and thorough probe into what it describes as one of the most significant instances of corporate governance failure and misuse of public money in recent years.
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