New Delhi [India], January 24 : The Supreme Court on Friday directed the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to file status reports on their ongoing probe into an alleged bank fraud of nearly Rs 1.5 lakh crore linked to the Anil Ambani Group.
The direction came while hearing a public interest litigation (PIL) seeking a court-monitored investigation into the matter.
A bench of Chief Justice of India Surya Kant and Justice Joymalya Bagchi also granted Anil Ambani and the Anil Ambani Group the last opportunity to file their counter-affidavits. The court noted that notices had earlier been issued to the respondents, but no responses had been filed so far.
"In the interest of justice, having lost the opportunity, respondents number 4 and 5 are permitted to enter appearance on so and so date and filed their counter affidavits. The registry may be directed to issue notice to the said respondents," the Court noted.
The PIL plea has been filed by former IAS officer E.A.S. Sarma, who has alleged that the respondents have siphoned off public funds by declaring several group companies bankrupt, with the alleged connivance of government and banking officials.
The apex court, which had previously issued notice in the matter, directed the investigating agencies to submit their status reports, permitting them to do so in a sealed cover if the investigation is still incomplete.
The PIL petitioner EAS Sarma, a former IAS officer, has alleged in his petition that Anil Ambani has siphoned off nearly Rs 1.5 lakh crore by declaring bankruptcy of several of his companies with the tacit support of the government and bank officials.
During the hearing, Advocate Prashant Bhushan, appearing for the petitioner, argued that loans exceeding Rs 1.5 lakh crore owed by companies had been written off, and that funds were allegedly diverted through a network of shell companies.
Bhushan further submitted that the proceedings had received extensive media coverage and asserted that the respondents were well aware of the case and closely following it.
The Solicitor General of India (SGI), Tushar Mehta, informed the court that he was not opposing Advocate Prashant Bhushan's submissions. He informed the bench that the FIR was registered following a forensic audit conducted by the State Bank of India, which found that funds had been diverted from their intended purpose. Based on the audit findings, SBI lodged an FIR with the CBI, he said.
After hearing arguments, the bench granted a last opportunity to the respondents to file their response to the plea.