On Friday, January 23, 2026, the Supreme Court of India issued fresh notices to Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) concerning a Public Interest Litigation (PIL) seeking a court-monitored investigation into alleged large-scale banking and corporate fraud. The bench, presided over by Chief Justice Surya Kant and Justice Joymalya Bagchi, has directed the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to submit status reports on their probes into the alleged fraud within ten days, in sealed covers. The matter is scheduled for further hearing after ten days.

The PIL was filed by former Union Power Secretary EAS Sarma. The court had previously issued notices to the Centre, CBI, ED, Anil Ambani, and ADAG on November 18, 2025. The court noted that neither Ambani nor ADAG had responded to the previous notices. The apex court stated that this would be their final opportunity to respond to the petition. The Registrar General of the Bombay High Court has been directed to ensure the notices are properly served and to file a compliance report.

Advocate Prashant Bhushan, representing the petitioner EAS Sarma, alleged that ADAG entities were involved in the fraudulent diversion of public funds, fabrication of financial statements, and systemic collusion with institutional actors. Bhushan claimed that loans exceeding Rs 1.50 lakh crore availed by ADAG companies had been written off and siphoned off through shell entities. He described the alleged fraud as "probably the largest corporate fraud in India's history" and stated that it had been ongoing since 2007-08, while the FIR by the CBI was only registered in 2025.

Bhushan also criticized the probe agencies for not investigating the alleged involvement of bank officials, auditors, and regulators. He requested the court to direct both agencies to file detailed reports on their investigation into the roles of banks and their officials in facilitating the alleged financial misconduct. The PIL alleges systematic diversion of public funds, fabrication of financial statements and institutional complicity across multiple entities of the Anil Ambani-led Reliance ADAG. It stated that the FIR registered by the CBI on August 21, along with the connected ED proceedings, addresses merely a small segment of the alleged fraud.

The Solicitor General, Tushar Mehta, representing the CBI and ED, was instructed to place their progress reports before the court in sealed covers. The court has scheduled the hearing after 10 days.