NEW DELHI, Nov 18: The Supreme Court on Tuesday issued notices to the Centre, CBI, ED, Anil Ambani and others on a PIL seeking a court-monitored probe into alleged large-scale banking and corporate fraud involving Reliance Communications (RCOM), its group companies and their promoter.
A bench of Chief Justice B R Gavai and Justice K Vinod Chandran sought responses within three weeks after hearing lawyer Prashant Bhushan, who appeared for PIL petitioner and former Union secretary E A S Sarma.
Bhushan argued that probe agencies have failed to investigate the alleged involvement of banks and their officials in the purported fraud and sought directions for the CBI and ED to submit status reports on their inquiry into banks and their personnel.
“Issue notice… returnable in three weeks,” the CJI said, posting the matter for further hearing thereafter.
The PIL accuses the Anil Ambani–led Reliance ADA Group of systematic diversion of public funds, fabrication of financial statements and institutional complicity. It alleges that the CBI FIR of August 21 and related ED proceedings cover only a small portion of the suspected fraud.
Despite forensic audits pointing to major irregularities, the petition contends that neither agency is examining the role of bank officials, auditors or regulators—calling this a “critical failure”. It also cites a Bombay High Court decision that has “recognised” findings of systematic fraud and fund diversion. (Agencies)
