Supreme Court Orders SIT Probe into Alleged Rs 40,000 Crore Bank Fraud by Anil Ambani Group

The Supreme Court of India has directed the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) to conduct a prompt, fair, and comprehensive probe into alleged bank fraud involving Reliance Communications, its group companies, and Anil Dhirubhai Ambani Group (ADAG), with claims of siphoning around Rs 40,000 crore. 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 assured the court he will not leave the country without permission amid concerns over potential flight risk. The court criticized delays and procedural approaches by agencies and sought status reports within four weeks.