Supreme Court issues fresh notice to Anil Ambani, ADAG in PIL alleging ₹1.5 lakh crore fraud

The Supreme Court of India on Friday (January 23, 2026) issued fresh notice to industrialist Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) in a Public Interest Litigation (PIL) that alleges large-scale financial irregularities involving bank lending.

The bench noted the petitioner’s submissions that notices had earlier been issued in November 2025, and indicated the respondents are being given a further opportunity to appear and file their replies.

Court asks CBI and ED to submit sealed status reports

In a key direction aimed at assessing the progress of ongoing investigations, the Supreme Court asked the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to submit updated status reports within 10 days, to be filed in sealed cover.

• Representation: Solicitor General Tushar Mehta appeared for the central agencies.
• Confidentiality: The sealed cover requirement allows investigators to share sensitive updates directly with the court without placing details in the public domain at this stage.
• Service of notice: The court also directed the Registrar General of the Bombay High Court to ensure proper service of notices on the respondents, as per the submissions made during the hearing.

PIL alleges institutional lapses and diversion of funds

The PIL was filed by former Union Secretary E.A.S. Sarma and is being argued by senior advocate Prashant Bhushan.

The petition alleges that the case involves diversion or siphoning of public funds exceeding ₹1.5 lakh crore, and raises concerns about possible institutional lapses.

The PIL claims the alleged misconduct spans group entities including Reliance Communications (RCOM), alleging:

• diversion of bank loans through complex corporate structures,
• manipulation of financial statements to conceal stress,
• and delays or failures in regulatory and institutional response despite warning signs.

Bhushan also argued that while criminal proceedings have begun, the matter warrants deeper scrutiny into the role of officials and institutions involved.

Why This Matters

The case is being closely watched for its potential implications for India’s banking and regulatory framework. A court-monitored review — if it expands further — could shape future expectations around:

1. Lender accountability in delayed fraud classification and reporting,
2. public fund protection under laws such as PMLA and FEMA,
3. corporate governance standards for highly leveraged conglomerates.

Summary

• The Supreme Court issued fresh notice to Anil Ambani and ADAG on Jan 23, 2026 in a PIL alleging financial fraud.
• The court asked CBI and ED to file sealed status reports within 10 days.
• The petition claims the alleged amount involved exceeds ₹1.5 lakh crore.
• Further hearings are expected after the court reviews the agencies’ reports.

FAQs

Q1: What did the Supreme Court order today?

The court issued fresh notice to the respondents and asked CBI and ED to submit sealed status reports on ongoing investigations.

Q2: What is the role of “sealed cover” in this case?

It allows agencies to share sensitive investigative updates with judges without immediately making those details public.

Q3: Has Anil Ambani been found guilty?

No. The matter is at the PIL and status-review stage. The allegations remain unproven and there is no final court finding.

Q4: Why is the petitioner calling this a major corporate fraud case?

Bhushan argued that the alleged scale and alleged institutional delay suggest systemic lapses.

Q5: What happens if the respondents do not appear?

If service is completed and there is continued non-appearance, the court may proceed further in the matter as per law.