"Unacceptable": Supreme Court Pulls Up Probe Agencies In Anil Ambani Bank Fraud Case

The Supreme Court on Monday warned the central probe agencies over what it called a "reluctant" investigation in the bank fraud case linked to Anil Ambani's Reliance Communications (RCOM). It has also directed the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to work together and complete the probe in a time-bound manner.

A bench led by Chief Justice Surya Kant said that while the court cannot dictate who should be arrested, the lack of urgency shown by investigating agencies was "unacceptable".

"We cannot direct whom to arrest, but the reluctance shown by agencies is unacceptable. The investigation must inspire confidence not only in us but in the public," the court observed.

The top court also asked the ED to inform it if any state authority or institution fails to cooperate with the investigation.

Agencies Told To "Join Hands"

In its order, the court stressed the need for coordination between agencies. "Investigation agencies must join hands and find out the issue in connivance with authorities," the bench said, adding that the probe must be conducted in a "dispassionate and independent manner". The court directed all financial institutions concerned to fully cooperate with the ED. It also allowed the agency to report back in case of any reluctance or non-cooperation.

Read: CBI Questions Anil Ambani for 8 Hours In Bank Fraud Case, Summons Him Again

Government Responds

Solicitor General Tushar Mehta informed the court that a Special Investigation Team (SIT) comprising ED officers has been formed and that four arrests have already been made. "We cannot make random arrests," Mehta said, adding that assets worth Rs 15,000 crore have been attached so far. He assured the court that authorities would act firmly: "No stone will be left unturned to unearth the truth."

Petitioners Raise Concerns

Senior advocate Prashant Bhushan, appearing for the petitioners, argued that only lower-level officials had been arrested so far despite serious findings. He pointed out that the Securities and Exchange Board of India (SEBI) had already submitted a report indicating a scheme to siphon off funds, yet no major arrests had been made by the CBI.

Read: Probe Agency Freezes Anil Ambani Group Properties Worth Rs 581 Crore

Next Hearing In 4 Weeks

Taking note of submissions, the Supreme Court directed the ED to continue seeking details from financial institutions and submit updates if needed. The matter has been posted for further hearing after four weeks. The court emphasised that the investigation must progress swiftly and transparently to ensure accountability and public trust.