Industrialist Anil Ambani has assured the Supreme Court he will not leave India without prior permission and will cooperate with investigators in the alleged Reliance Communications bank fraud case being probed by the ED and CBI.
NEW DELHI: Industrialist Anil Ambani has submitted an undertaking to the Supreme Court, committing not to leave India without the Court’s prior approval and agreeing to cooperate with investigating agencies regarding the large-scale bank fraud linked to Reliance Communications (RCOM) and its associated entities.
Ambani is currently under investigation by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) concerning these allegations.
The undertaking was filed in response to a public interest litigation lodged by EAS Sarma.
This undertaking followed a statement made by Ambani’s legal representative, Senior Advocate Mukul Rohatgi, during the Supreme Court proceedings on February 4, asserting that Ambani would refrain from traveling abroad without the Court’s authorization.
In the compliance affidavit, Ambani formally reiterated this assurance as an undertaking presented to the Court. He indicated that he has remained in India since July 2025, when the current investigations commenced, and has no plans to travel outside the country.
Furthermore, he stated that should the need for foreign travel arise, he would seek the Court’s permission beforehand.
The affidavit stressed Ambani’s ongoing cooperation with the investigating agencies and confirmed that he has been summoned by the Directorate of Enforcement, promising to appear and participate in the investigation on the designated date.
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It also noted that his examination under Section 50 of the Prevention of Money Laundering Act, 2002, is in progress while the proceedings are pending before the Supreme Court.
Ambani clarified his position within the involved companies, indicating that he is merely a non-executive director and does not engage in their daily management or operations.
According to the petition submitted to the Court, RCOM and its subsidiaries Reliance Infratel and Reliance Telecom secured loans totaling Rs 31,580 crore from a consortium of banks led by the State Bank of India (SBI) between 2013 and 2017.
The petition stated that a forensic audit commissioned by SBI uncovered significant fund diversion, including substantial amounts used to settle unrelated loans, transfers to affiliated parties, immediate liquidations of investments in mutual funds and fixed deposits, and complex circular money routing to conceal the evergreening of loans.
The petition further contended that the FIR filed by the CBI on August 21, 2025, along with the related ED proceedings, address only a portion of the alleged misconduct.
It claimed that the investigating agencies are overlooking the roles of bank officials and regulators, despite comprehensive forensic audits and independent reports indicating extensive fraud.
The petitioner asserted that only judicial oversight could guarantee a thorough investigation of a case involving such significant public financial exposure.
On February 4, the Supreme Court directed the Enforcement Directorate to form a Special Investigation Team (SIT) to examine the allegations.
Additionally, the Court tasked the CBI with ensuring that any potential collusion by bank officials in the alleged fraud is thoroughly investigated.
Case Title: EAS Sarma Vs Union of India.