Bank Fraud Case | Anil Ambani Will Not Leave India Without Permission: Supreme Court Orders ED to Form SIT

Today, on 4th February, the Supreme Court directed the Enforcement Directorate to form a Special Investigation Team to probe alleged bank fraud involving Anil Ambani, Reliance Communications, and group companies, while hearing a PIL filed by former bureaucrat EAS Sarma. Bench expressed concern.

Bombay High Court Halts Bank Action Against Anil Ambani Over ‘Invalid’ Forensic Audit Report

The Bombay High Court has stayed all coercive action by Bank of Baroda, IDBI Bank and Indian Overseas Bank against Anil Ambani. The Court held that the forensic audit relied upon was not signed by a qualified chartered accountant and cannot be the basis for fraud action.