Industrialist Anil Ambani. File
| Photo Credit: PTI
The Central Bureau of Investigation (CBI) is probing bank mortgage frauds cumulatively price ₹73,000 crore in seven instances registered towards the Reliance Anil Ambani Group, in keeping with a standing report filed in the Supreme Court in February.
The CBI knowledgeable the court docket that it’s actively investigating seven instances, and is probing the roles of sure public servants as nicely.
After reviewing the standing report filed by the CBI and its monetary investigations counterpart, the Enforcement Directorate (ED), the apex court docket issued an order on March 23.
“…the losses in the other cases also come to several thousands of crores, totalling claims of approximately ₹73,006 crore,” the apex court docket order mentioned, referring to the CBI probe.
A response from the Reliance Group to a question despatched by PTI concerning this improvement is awaited.
The ED informed the court docket that it seized sure paperwork that talk a few purported “Project Help”, indicating that insolvency proceedings have been “deliberately” began by unrelated lenders.
“According to the report, all funding for IBC (insolvency and bankruptcy code) acquisitions was arranged through a group of eight NBFCs (non-banking financial companies) … It is noted that claims totalling approximately ₹2,983 crore were settled for ₹26 crore,” the Supreme Court mentioned, after perusing the ED report.
The ED additionally knowledgeable the court docket that it has constituted a particular investigation group to probe these instances and is at the moment engaged on eight instances associated to the Reliance Anil Ambani Group (RAAG).
The Supreme Court mentioned, “Since the preliminary facts speak for themselves, it is a situation where senior officials of the investigating agencies must collaborate and make a strong effort to uncover any irregularities, illegal acts, or collusion and connivance by public officials, especially those in the financial institutions, if any, in granting undue benefits to the management of RAAG.
“While we don’t categorical any opinion on the deserves of the allegations, all that we want to observe is that it’s crucial upon the CBI and the ED to finish the investigation in a most dispassionate, honest, clear and unbiased method and take the continued investigation to its logical conclusion in a time-bound method,” it added.
The ED also informed the three-member Supreme Court bench led by Chief Justice Surya Kant that it has “not acquired” certain information sought from sister probe agencies concerning this investigation.
The court docket directed that every one companies and monetary establishments shall lengthen their “full cooperation” to the ED and make the necessary information available in a timely fashion.
It has scheduled the next hearing for April 30.
Published – April 06, 2026 06:30 pm IST
