Two weeks after the Supreme Court criticised central agencies for delays in probing an alleged large-scale bank fraud involving Reliance Group companies, former promoter Anil Ambani on Thursday filed an affidavit undertaking that he will not leave India without prior permission of the court. He also maintained that he was not involved in the day-to-day functioning of the companies under investigation.
In the affidavit submitted before a bench headed by Chief Justice of India Surya Kant, Ambani said his role in the concerned firms was “that of a Non-Executive Director only” and that he had no part in their operational management.
The affidavit follows the court’s February 4 order expressing concern over the pace of investigation by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) into alleged siphoning of public funds. At that hearing, the court directed authorities to take preventive steps to ensure Ambani does not leave the country. His counsel, senior advocate Mukul Rohatgi, had assured the bench that Ambani would not travel abroad without prior approval.
Reaffirming that assurance under oath, Ambani stated he has not left India since July 2025, when investigations began, and has no plans to do so. He undertook that if any need for foreign travel arises, he would first seek the court’s permission.
Ambani also informed the court that he has been summoned by the ED on February 26 and will appear as directed. He said he has been fully cooperating with investigators and has no intention of evading legal proceedings. The affidavit referred to his ongoing examination under Section 50 of the Prevention of Money Laundering Act (PMLA), 2002.
He argued that his conduct demonstrates he is not a flight risk and that the affidavit has been filed to ensure clarity and transparency in the judicial record.
Court’s Earlier Observations
On February 4, the Supreme Court sharply questioned the CBI and ED over what it described as an “unexplained delay” in probing allegations of fraud involving tens of thousands of crores of rupees linked to public sector banks and financial institutions. The bench observed that the scale of the alleged offences warranted a more comprehensive investigation, including multiple preliminary enquiries and regular cases instead of a single FIR.
The court also held that procedural hurdles, such as sanction requirements, should not stall a probe where there is prima facie material indicating possible siphoning of funds and institutional complicity. It directed agencies to act “fairly, swiftly and without fear or favour” and to ensure the investigation is not hampered.
The matter stems from a public interest litigation filed by retired bureaucrat EAS Sarma, represented by advocates Prashant Bhushan and Pranav Sachdeva, seeking a court-monitored investigation into alleged fraud involving various Reliance Group entities.
In an earlier affidavit, the ED detailed significant loan defaults. It alleged that Reliance Home Finance Ltd defaulted on loans amounting to ₹7,523.46 crore from 33 lenders, while Reliance Commercial Finance Ltd defaulted on ₹8,226.05 crore from 21 lenders. In the case of Reliance Communications (RCOM) and its group entities, outstanding dues exceeding ₹40,000 crore were cited as part of the alleged proceeds of crime.
The ED has so far registered three Enforcement Case Information Reports (ECIRs) and made arrests in connection with the case. The CBI has been directed to probe possible institutional complicity and carry the investigation to its logical conclusion.
The Supreme Court has indicated it will continue to closely monitor the matter. The case is expected to be listed again on March 10, when investigative agencies are scheduled to submit detailed status reports.
