SC defers to May 8 hearing on PIL alleging banking fraud by Anil Ambani-led ADAG
The Supreme Court on Thursday deferred to May 8 the hearing on a PIL alleging large-scale banking fraud involving the Anil Dhirubhai Ambani Group and its firms.
A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi was hearing the PIL filed by former bureaucrat EAS Sarma seeking a court-monitored investigation into alleged loan frauds exceeding `40,000 crore by the Anil Dhirubhai Ambani Group (ADAG) firms led by Anil Ambani. At the outset, Solicitor General Tushar Mehta, appearing for the CBI and the Enforcement Directorate, said the two central probe agencies have filed fresh status reports in pursuance of directions issued on March 23 in the case.
“The CBI and the ED have filed status reports. The kingpin has not been arrested. Anil Ambani was identified as the kingpin. But nothing has been done yet,” lawyer Prashant Bhushan, appearing for the PIL petitioner, said.
“I cannot respond as to why ‘X’ or ‘Y’ is not arrested. We have filed our status reports,” the solicitor general said.
Senior advocate Kapil Sibal, appearing for Anil Ambani, urged the bench to accord him a hearing for half-an-hour as he has something to say which has not been apprised to any court so far.
“Before taking cognisance of (status) reports, we will also hear you,” the CJI said, adding that the court ordered a probe to ensure transparency and impartiality in the ongoing investigations.
Earlier, the bench expressed displeasure over the “reluctance” shown by the CBI and the ED in probing the alleged large-scale banking fraud involving ADAG and its firms.
It had directed the CBI and the ED to conduct a “fair, dispassionate, transparent, and time-bound” investigation into the matter.
The bench also directed all financial institutions concerned to “render full cooperation to the ED”.
It also permitted the central probe agencies to approach it in case there is any reluctance on the part of other Government bodies in extending cooperation to them. Mehta informed the bench that an SIT, in pursuance of an earlier order, had been constituted comprising senior ED officers and financial experts from the banking sector.
He said the probe agencies, so far, attached assets worth `15,000 crore and also arrested four persons, including a few senior officials.
The bench referred to certain facts disclosed in the fresh status reports of the probe agencies and said the CBI and the ED are presently probing seven and eight FIRs.
