New Delhi : The Supreme Court directed central investigative agencies to conduct a time-bound, fair and transparent probe into alleged financial irregularities linked to the Reliance Anil Ambani Group (RAAG), while hearing a public interest litigation filed by EAS Sarma on March 23.
A bench headed by the Chief Justice, along with Justices Joymalya Bagchi and Vipul M Pancholi, took note of status reports submitted by the Directorate of Enforcement (ED) and the Central Bureau of Investigation (CBI). The ED informed the court that a Special Investigation Team (SIT) was constituted on February 12, 2026, to probe multiple cases connected to RAAG. The SIT includes senior ED officials, forensic analysts, and representatives from banking institutions.
According to the ED's report, investigations have begun in eight cases, with several documents already seized. The agency also flagged a suspected "Project Help," under which insolvency proceedings were allegedly initiated through unrelated lenders. It further claimed that claims worth around Rs 2,983 crore were settled for just Rs 26 crore, raising concerns of possible financial misconduct.
The CBI, in its submission, said seven cases are under active investigation, including five recent FIRs. It noted that the alleged wrongful loss in one case alone amounts to Rs 2,223 crore, with total claims across cases reaching approximately Rs 73,006 crore. The agency is also examining the role of public servants and possible collusion with financial institutions.
Observing that the "preliminary facts speak for themselves," the court stressed the need for coordinated efforts by senior officials of both agencies to uncover any irregularities, illegal acts, or collusion. However, it clarified that it was not expressing any opinion on the merits of the allegations.
Solicitor General Tushar Mehta assured the bench that all efforts would be made to complete the investigation within four weeks. The court also directed all regulatory bodies, financial institutions, and authorities to fully cooperate with the ED, warning that any delay or resistance must be reported back to the court. The matter has been posted for further hearing on April 30, 2026.