Supreme Court Issues Notice in Ambani Group Fraud PIL
The Supreme Court has issued notices to industrialist Anil Ambani and companies linked to the Anil Dhirubhai Ambani Group in a public interest litigation alleging large-scale banking and corporate fraud. The court granted a final opportunity to the concerned parties to appear and submit their responses.
Directions to Agencies
The court directed investigating agencies, including the Central Bureau of Investigation and the Enforcement Directorate, to file status reports on ongoing probes related to the allegations. The bench asked that the reports be submitted within a stipulated time, noting the need for clarity on the progress of investigations.
Allegations Raised
The petition alleges irregularities in bank lending and diversion of funds involving group companies and seeks a comprehensive probe into the matter. The court clarified that it has not made any findings on the merits of the allegations at this stage.
Next Steps
The case will be taken up for further hearing after the agencies submit their reports and the respondents file replies. The proceedings remain at a preliminary stage.
