CBI, ED are showing reluctance in ADAG investigation: Supreme Court. india news
New Delhi: The Supreme Court on Monday criticized the apparent reluctance among investigating agencies to move forward against Anil Ambani-led ADAG group of companies accused of siphoning off Rs 40,000 crore from bank loans and directed the CBI and ED to conduct an expeditious and coordinated investigation against the ADAG entities, their directors and officers.A bench of CJI Surya Kant, Justices Joymalya Bagchi and Vipul M Pancholi said, “The conduct of the investigating agencies reflects a certain degree of reluctance. The investigation conducted by the investigating agencies should be transparent, fair and speedy so as to inspire confidence not only in the court but also among all the stakeholders and the public.”File new status report of ADAG GRP case in 4 weeks: Supreme Court tells CBI, EDWhen the bench said that although the irregularities in the Anil Ambani-led ADAG Group loan fraud probe had been exposed by SEBI much earlier and the CBI’s August 2025 FIR dealt with a small part of the fraud, Solicitor General Tushar Mehta, appearing for the CBI and ED, assured the court that the court’s views would be personally conveyed to the agencies in a “very strict” manner.SC asked agencies to file new status report in four weeks.Mehta informed the court that the ED has constituted the SIT as per the directions of the Supreme Court and the CBI has so far registered eight separate cases related to alleged misappropriation of around Rs 41,000 crore from bank loans. Mehta said, four top officials of ADAG Group have been arrested so far. He said the CBI is taking the help of financial experts to unravel the complex routing and re-routing of money.He said that ED has written to banks and financial institutions to immediately provide information related to due diligence before sanction of loans and disbursement of loan amount. He said the ED has also requested him to take action against the guilty officials under banking laws and regulations.On his request, the bench directed all financial and other institutions to immediately provide the information required by the investigating agencies. “Apart from the ADAG Group and its officials, action should also be taken against those involved in irregular sanction of loans and playing with public funds,” the bench said.For Anil Ambani, who has already given an undertaking to the court not to leave India without the prior permission of the Supreme Court, senior lawyer Mukul Rohatgi said the ADAG Group is ready to discuss with banks and financial institutions to settle the dues, but no one is coming forward due to the pendency of the PIL filed by former bureaucrat EAS Sarma.Mehta said settlement of dues may free ADAG Group from civil liabilities, but there is a need to thoroughly investigate the criminal acts and take them to their logical end. The bench rejected Rohatgi’s request to direct the banks to discuss settlement of dues with ADAG Group. Advocate Prashant Bhushan, for the PIL petitioner, said SEBI had given a detailed report about the financial fraud committed by ADAG group entities and yet the investigating agencies did nothing until the Supreme Court issued them a notice.The plea, filed through advocate Pranab Sachdeva, alleged that ADAG’s three companies – Reliance Communications (RCOM), Reliance Infratel (RITL) and Reliance Telecom (RTL) – cumulatively received loans worth Rs 31,850 crore from a consortium of SBI-led public sector banks between 2013-17.The petitioner said various documents revealed the alleged involvement of ADAG companies in “large scale misappropriation of funds, roundtripping, misuse of external commercial borrowings, fabrication of accounting entries, operation of shell entities and complete disregard of public funds”.


