Anil Ambani Loan Fraud Case: Supreme Court Gives CBI, ED 10 Days to Submit Status Reports

KEY TAKEAWAYS:

Supreme Court directs CBI and ED to file sealed status reports within 10 days.
Bench calls it the final chance for Anil Ambani and ADAG to respond.
PIL alleges wider banking collusion and institutional complicity in improper loans.

New Delhi: The Supreme Court on Saturday intensified scrutiny in the Anil Ambani loan fraud case, directing the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to submit detailed status reports within 10 days.

The reports have been ordered to be filed in sealed covers, reflecting the seriousness of the allegations and the ongoing investigation.

Supreme Court Demands Sealed Reports in Anil Ambani Loan Fraud Case

A bench headed by Chief Justice Surya Kant and Justice Joymalya Bagchi issued the direction while hearing a public interest litigation highlighting alleged large-scale financial wrongdoing.

Solicitor General Tushar Mehta appeared in court representing both investigative agencies.

The bench stressed that this was a final opportunity for Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) to file their responses before further action is taken.

Notices to ADAG Must Be Served, Court Orders Compliance Report

The Supreme Court also directed the Registrar General of the Bombay High Court to ensure that notices are properly served to both Anil Ambani and ADAG.

A compliance report confirming the service of notices must also be submitted to the court.

This step is aimed at ensuring procedural clarity and accountability in the high-profile matter.

Petitioner Flags Delay in CBI and ED Action

The petition has been filed by former bureaucrat E A S Sarma, represented by senior advocate Prashant Bhushan.

Sarma raised strong concerns over the delay in investigative action, arguing that the FIR was registered only in 2025 despite the alleged fraud dating back to 2007-08.

He claimed that the probe so far addresses only a fraction of the suspected wrongdoing.

PIL Alleges Banking Collusion and Fabrication of Documents

The PIL alleges that several banks and officials may have colluded with corporate entities in facilitating improper loans.

It further claims that financial documents were fabricated to support illegitimate lending and cover up irregularities.

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The petition seeks an expanded investigation not only against companies but also against regulators and institutions suspected of institutional complicity.

During arguments, Bhushan told the court that the existing investigation remains narrowly focused.

He urged the Supreme Court to mandate filings from the CBI and ED clarifying whether banks involved in granting the loans have also been brought under scrutiny.

The case is expected to be reviewed again after the sealed reports are submitted, potentially widening the scope of investigation into one of India’s biggest corporate finance controversies.