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Supreme Court Puts ADAG Fraud Probe Under Oversight, Orders ED SIT

The bench set a four-week deadline for new status reports after flagging years of investigative delay.

Overview

  • CBI was told to examine possible collusion by bank officials and was criticized for using a single FIR despite multiple bank complaints.
  • Anil Ambani, through counsel, undertook not to leave India without Supreme Court permission, with look-out circulars noted on record.
  • The ED informed the court that loans and dues tied to RCom and related entities total about ₹40,185 crore, with alleged proceeds of crime exceeding ₹20,000 crore.
  • Assets worth roughly ₹8,078 crore have been provisionally attached as the ED pursues multiple ECIRs and has arrested former RCom director Punit Narendra Garg.
  • The court said it will keep monitoring the case and expects monthly updates, with detailed status reports from CBI and ED due in four weeks.