The Supreme Court of India has raised concerns regarding what it perceives as a reluctance on the part of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to adequately investigate the Anil Ambani-led Reliance Group, also known as the Anil Dhirubhai Ambani Group (ADAG). The court has ordered both agencies to expedite their inquiries into the alleged siphoning of approximately Rs 40,000 crore from bank loans and emphasized that these investigations must be conducted in a transparent, fair, and prompt manner. A bench consisting of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi stressed the necessity of such an approach to restore public confidence in the judicial process.

Fresh Status Reports Ordered by Supreme Court

During the proceedings, the bench directed the CBI and ED to submit fresh status reports within four weeks regarding their investigations. The court highlighted that the irregularities associated with the ADAG group had been raised previously by the Securities and Exchange Board of India (Sebi), yet the FIR filed by the CBI in August 2025 addressed only a fraction of the larger fraudulent activities. Solicitor General Tushar Mehta, representing the CBI and ED, assured the court that he would communicate its concerns to the agencies with greater urgency.

Investigative Developments and Arrests

Mehta informed the court that the ED had established a Special Investigation Team (SIT) in compliance with the court’s earlier instructions. He also noted that the CBI had initiated eight separate cases concerning the alleged siphoning of nearly Rs 41,000 crore. As part of the investigation, four senior officials linked to the ADAG group have been arrested. Mehta stated that the CBI is collaborating with financial experts to clarify the intricate financial maneuvers involved in the case.

Requests for Information from Financial Institutions

The Solicitor General revealed that the ED has reached out to various banks and financial institutions, requesting them to provide information regarding the loan sanctioning process and the due diligence executed before disbursement. Additionally, the ED has urged these institutions to take necessary actions against any officials who may have violated banking laws. In response to Mehta’s request, the bench mandated that all relevant financial institutions promptly supply the information required for the investigations. The court also asserted that not only the ADAG group and its officials, but also those responsible for improper loan sanctions should face appropriate consequences.

Settlement Discussions and Ongoing Legal Obligations

Anil Ambani, who has previously undertaken not to leave India without prior approval from the Supreme Court, has indicated that the ADAG group is open to negotiating settlements with banks and financial institutions regarding outstanding dues. Senior advocate Mukul Rohatgi communicated that the group is willing to engage in discussions; however, progress has been hindered due to a pending Public Interest Litigation (PIL) filed by former bureaucrat E A S Sarma. The Solicitor General noted that while settling these dues could alleviate the ADAG group’s civil liabilities, it is imperative that criminal actions be thoroughly investigated.

Background of Allegations Against ADAG Companies

The PIL, represented by advocate Prashant Bhushan, has claimed that three ADAG companies—Reliance Communications, Reliance Infratel, and Reliance Telecom—collectively received loans worth Rs 31,850 crore from a consortium of public sector banks, led by the State Bank of India, between 2013 and 2017. The petition highlights various alleged malpractices by the ADAG companies, including significant fund diversions, round-tripping, misuse of external commercial borrowings, and the operation of shell entities, portraying a disregard for public funds.

Long or Short, get news the way you like. No ads. No redirections. Download Newspin and Stay Alert, The CSR Journal Mobile app, for fast, crisp, clean updates!

App Store –  https://apps.apple.com/in/app/newspin/id6746449540 

Google Play Store – https://play.google.com/store/apps/details?id=com.inventifweb.newspin&pcampaignid=web_share