Supreme Court turns up the heat on Anil Ambani over alleged ₹40,000 crore bank fraud
The Supreme Court has sent fresh notices to Anil Ambani and his group (ADAG) after a PIL accused them of pulling off a huge banking scam.
The PIL alleges that Reliance Communications, Reliance Infratel, and Reliance Telecom borrowed ₹31,580 crore from a consortium of banks since 2007-08 and that funds were siphoned off.
Petitioner EAS Sarma says public money was diverted and financial records were faked.
What's happening now?
Despite an FIR lodged in August 2025 (by SBI) and registered by the CBI, Sarma's counsel, Prashant Bhushan, submitted that the fraud has been going on since 2007-08, with banks, officials, and auditors allegedly looking the other way.
The Supreme Court wants answers—it's given the CBI and Enforcement Directorate 10 days to file sealed updates on their investigations.
The next hearing is set for after 10 days as everyone waits to see what the agencies reveal.