Anil Ambani Gives Undertaking Not to Leave India as Supreme Court Orders SIT For ₹40,000 Crore Bank Fraud Probe

The Supreme Court has directed the Enforcement Directorate to set up a Special Investigation Team to expedite probes into alleged bank frauds linked to Reliance Communications Ltd and promoter Anil Ambani, with public funds involved estimated at ₹40,000 crore, as per news reports.  

Anil Ambani’s legal representative assured the court he would not depart India without prior permission. 

Supreme Court Demands Time-Bound Probe 

A Bench led by Chief Justice Surya Kant expressed concern over delays by the ED and CBI in investigating large-scale loan defaults tied to RCOM, RCFL and Reliance Home Finance Ltd (RHFL).  

The court mandated both agencies to file detailed status reports within four weeks and emphasised independent, swift action. No coercive orders were issued at this stage. 

Asset Attachments and Arrests 

The ED has provisionally attached assets worth ₹1,885 crore connected to the cases, bringing total attachments against the Reliance Group to approximately ₹12,000 crore.  

A former RCOM director, Punit Garg, was arrested last week for allegedly diverting funds to offshore entities. 

Read More: Reliance Anil Ambani Group in Focus: ED Attaches Properties Worth ₹1,885 Crore to Recover Bank Dues! 

Single FIR Raises Questions 

The court questioned why only one FIR had been filed despite multiple complaints from lenders, noting each transaction may warrant separate examination. The CBI has been directed to scrutinise bank officials’ conduct for potential collusion. 

Balancing Legal and Business Claims 

While petitioners urged immediate arrests of key figures, the defence argued that business defaults should not be criminalised and that repayment efforts are ongoing.  

The ED confirmed the existence of forged bank guarantees and is examining Yes Bank’s 2017 investments in Reliance group firms. 

Conclusion 

The Supreme Court has ordered structured oversight of an ongoing multi-agency probe into alleged financial misconduct involving ₹40,000 crore, with asset attachments and limited arrests already occurring. Anil Ambani has committed to remaining in India during the investigation. 

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