Supreme Court Orders Time‑Bound Probe Into Anil Ambani Fund Allegations

The Supreme Court on Monday expressed concern over delays and reluctance by investigating agencies in a PIL alleging financial irregularities and fund siphoning linked to Anil Ambani and associated entities, including Reliance Home Finance Limited.

Chief Justice of India Surya Kant, heading the bench, emphasised that the agencies must conduct a transparent, fair, and time‑bound investigation to inspire confidence among the Court and all stakeholders.

Solicitor General Tushar Mehta told the Court that the Enforcement Directorate (ED) had formed a Special Investigation Team (SIT) comprising officers from multiple agencies, supported by forensic auditors.

He added that the Central Bureau of Investigation (CBI) had appointed transaction auditors and executed several arrests.

Status reports show multiple cases under scrutiny, including transactions involving public servants, with financial institutions providing necessary details.

Senior Advocate Prashant Bhushan, representing the petitioner, highlighted that despite SEBI findings alleging fraudulent schemes and fund siphoning by Anil Ambani and related entities, agencies had taken limited substantive action.

In response, the Solicitor General clarified that four persons had been arrested so far.

The Court directed the agencies to work collaboratively, especially where allegations point to possible collusion with authorities.

It underscored that the investigation must remain independent, dispassionate, and adhere strictly to a time-bound framework.

The ED‑constituted SIT will lead the probe with full cooperation from all concerned financial institutions.

The Court also noted that the agencies must maintain transparency and provide periodic updates to ensure accountability.

The bench scheduled the next hearing in four weeks, emphasising that the investigation must leave no stone unturned in uncovering the truth and restoring public confidence in the regulatory and enforcement processes.

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