Famous industrialist Anil Ambani’s troubles may increase further. Because, on a PIL seeking a court-monitored investigation into alleged massive banking and corporate frauds involving Reliance Communications (RCom), its group companies and their promoters, the Supreme Court has issued notices to the Central Government, CBI, ED, Anil Ambani and others. A bench of Chief Justice BR Gavai and Justice K Vinod Chandran considered the arguments of advocate Prashant Bhushan, who filed the PIL and appeared on behalf of former Union Secretary EAS Sharma, and sought a reply within three weeks.

Anil Ambani-owned company Reliance Infra is trading with a decline of 4 percent and Reliance Power is trading with a decline of one and a half percent. However, shares of Reliance Communication are trading rapidly.

misuse of public money

This PIL has alleged systematic misuse of public funds, manipulation of financial statements and institutional collusion in several entities of Anil Ambani-led Reliance Anil Dhirubhai Ambani Group. It said the FIR lodged by the CBI on August 21 and the related Enforcement Directorate (ED) action, address only a small part of the alleged fraud.

Advocate Prashant Bhushan alleged that the investigating agencies are not probing the alleged collusion of banks and their officials in this huge banking scam. He sought direction to the CBI and ED to file their respective status reports regarding the investigation against the banks and their officials in this case.