Supreme Court pulls up CBI, ED over Anil Ambani bank fraud case

New Delhi (The Uttam Hindu): The Supreme Court has taken a strong stance on the lax approach of central investigating agencies in the multi-crore bank fraud case involving Reliance Communications (RCOM) chief Anil Ambani. The court expressed deep displeasure, calling the CBI and Enforcement Directorate (ED) investigations in this high-profile case "reluctant." A bench headed by Chief Justice of India (CJI) Surya Kant directed the two agencies to coordinate and complete the investigation in a timely manner. The bench stated clearly that this laxity on the part of the investigating agencies is completely unacceptable. The court clarified that it cannot decide who should be arrested, but the agencies' investigations should be transparent enough to inspire complete confidence not only in the court but also in the general public.

Join hands: Supreme Court tells CBI and ED

In its stern order, the Supreme Court has advised the investigating agencies to "join hands" with each other. The bench has directed that the investigation should be completely impartial, independent, and without any bias. Additionally, the court has issued strict instructions to all relevant financial institutions to fully cooperate with the ED's investigation. The court has also given the ED the discretion to directly inform the court if any institution refuses to cooperate with the investigation.

SIT formed, government says assets worth Rs 15,000 crore seized

During this heated hearing, Solicitor General Tushar Mehta, representing the government, provided the court with crucial information. He stated that a Special Investigation Team (SIT) of ED officials has been formed to investigate the matter, and four individuals have been arrested so far. The Solicitor General assured the court that no arrests can be made without solid evidence, but no effort will be spared to uncover the truth. He also made the significant revelation that assets worth approximately ₹15,000 crore have been seized during the investigation.

Why only action against junior officials? Prashant Bhushan raises serious questions.

During the hearing, senior advocate Prashant Bhushan, representing the petitioner, raised several serious questions about the actions of the investigating agencies. He argued that only lower-level officials have been arrested so far in such a massive scam. Bhushan asked the court why the CBI has not yet made any major arrests, despite the SEBI report revealing the entire scheme of fund embezzlement. After hearing arguments from all parties, the Supreme Court scheduled the next hearing in the case after four weeks and directed the ED to file a progress report if necessary.