Supreme Court Orders SIT Probe into Alleged Banking Fraud by Anil Ambani Group

The Supreme Court has directed the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) to conduct a fair, prompt, and dispassionate probe into alleged large-scale banking and corporate fraud involving Anil Dhirubhai Ambani Group (ADAG) and Anil Ambani. The court ordered the ED to form a Special Investigation Team (SIT) of senior officers and urged the CBI to investigate possible collusion by bank officials. Anil Ambani has given an undertaking not to leave India without court permission amid concerns over delays and the magnitude of public funds involved. The court emphasized timely, comprehensive investigations and will monitor progress with status reports due in four weeks.