NEW DELHI — The Supreme Court on Thursday took on record fresh status reports filed by the Central Bureau of Investigation and the Enforcement Directorate in the investigation into alleged bank fraud involving Anil Ambani-led Reliance Communications and related group entities.
A bench led by Chief Justice of India Surya Kant, with Justices Joymalya Bagchi and Vipul M. Pancholi, listed the matter for further hearing next Friday.
During the hearing, advocate Prashant Bhushan, appearing for the petitioner, told the court that despite developments in the investigation, the alleged “kingpin” had not been arrested.
“CBI and ED have filed status reports. The kingpin has not been arrested. Anil Ambani was identified as the kingpin. But nothing yet,” Bhushan submitted.
Solicitor General Tushar Mehta, representing the probe agencies, said he could not comment on why a specific individual had or had not been arrested.
“I cannot respond to why X or Y is not arrested. We have filed our status reports,” Mehta said, indicating that separate sealed reports had been submitted by the CBI and ED.
Taking the reports on record, the chief justice said, “Status report taken on record. List next Friday.”
Senior advocate Kapil Sibal, appearing for Ambani, asked the bench to allow him at least 30 minutes to make submissions before any further action is taken.
The court said Ambani’s side would be given a full opportunity to be heard.
“We will hear you. Before taking cognisance of the report, we will also hear from you,” the bench said.
The case concerns alleged financial irregularities and loan fraud involving RCom and its group entities. The Supreme Court had earlier called for a coordinated, transparent and time-bound investigation, directing central agencies including the CBI and ED to work together to determine the facts.
The ED recently said it had provisionally attached fresh assets worth Rs 3,034.90 crore in the RCom bank fraud case under the Prevention of Money Laundering Act. The agency said the latest action brought total attachments in Reliance Anil Ambani Group-related matters to more than Rs 19,344 crore.
According to the ED, RCom and its group entities had taken loans from domestic and foreign lenders, with total outstanding dues of Rs 40,185 crore.
The CBI had earlier arrested two senior RCom executives, Joint President D. Vishwanath and Vice President Anil Kalya, in connection with a Rs 19,694 crore bank fraud case. The agency alleged that its investigation found circuitous transactions through shell entities and bogus service-related transactions routed through discounted letters of credit, causing major losses to 17 public sector banks and financial institutions. (Source: IANS)
