New Delhi: A Public Interest Litigation (PIL) has been filed in the Supreme Court of India against Anil Ambani’s Reliance Communications Ltd (RCOM) and its subsidiary companies, seeking a court-monitored investigation into alleged large-scale bank fraud. The PIL demands that the probe should be independent, transparent, and go beyond the ongoing investigations by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
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The plea, filed by former Union Secretary EAS Sarma, was heard by a bench led by Chief Justice of India BR Gavai on Tuesday. The bench issued notices to the central government, CBI, and ED, seeking their responses to the petition.
According to the PIL, the alleged fraud by RCOM and its affiliates requires judicial oversight to ensure that the investigation is not restricted to the current FIR RCBD1/2025/E/0005 or the connected ED probe. Publicly available reports and documents reveal multiple serious offences that demand inclusion in the inquiry.
Bank Lapses and Potential Collusion
The petition highlights a critical aspect of the case: the lending bank reportedly delayed filing the FIR by five years. The PIL argues that this inordinate delay points to potential complicity or negligence on the part of bank officials.
A forensic audit conducted in 2020 revealed significant irregularities, including diversion of funds, evergreening of loans, fictitious transactions, and the use of shell companies by RCOM. Despite these findings, the bank reportedly took no statutory action until August 2025.
The plea further contends that this unexplained delay indicates a possible institutional failure or deliberate inaction by public officials. The petitioner asserts that CBI and ED have entirely failed to investigate this institutional angle, leaving out the role of officials whose complicity or willful neglect forms an integral part of the criminal conspiracy.
Necessity for Court-Monitored Investigation
The PIL urges the Supreme Court to order a court-monitored investigation to ensure independence and transparency. Senior advocate Prashant Bhushan represented the petitioner in the court.
The plea stresses that it is insufficient to investigate only the private companies involved in the alleged fraud. The institutional role of bank officials and public servants must also be scrutinized, as their potential collusion or negligence is a key component of the larger criminal design.
Legal experts note that a court-monitored probe would not only strengthen fairness in the investigation but also restore public confidence in the banking system and in government institutions.
Public Interest Dimension
The PIL emphasizes the case’s significance in the public interest, arguing that unexplained delays, inaction by public officials, and institutional lapses must be investigated. A court-monitored inquiry would ensure that not only the allegations against Anil Ambani’s companies are examined but also that systemic failures within financial institutions are addressed.
The petitioner insists that a limited scope investigation under existing FIRs would fail to capture the full extent of the alleged criminal activities. A court-supervised investigation is necessary to hold both private entities and public officials accountable and prevent any future financial misconduct.
By demanding judicial oversight, the PIL aims to guarantee that the investigation covers all grave offences revealed in multiple reports and documents available in the public domain. It also seeks to protect public resources and ensure justice in one of the largest alleged bank fraud cases in recent times.
The Supreme Court’s response to this PIL is expected to determine whether the investigation will expand in scope and be conducted under judicial supervision, potentially setting a precedent for handling high-profile financial fraud cases in India.
