In a significant development in the ongoing investigation into alleged financial irregularities involving Anil Ambani and his group companies, the Enforcement Directorate (ED) has formed a Special Investigation Team (SIT) to probe the matter. This action follows directives from the Supreme Court, which has expressed concerns over delays in the investigation and called for a "fair, prompt, and dispassionate probe".

The SIT will be headed by an officer of the rank of Additional Director and will consist of six members. The ED has been investigating the Anil Ambani Group of companies since last year and has already registered three money laundering cases. Anil Ambani himself has been questioned by the ED previously.

The Supreme Court's intervention came after taking note of a report submitted by the Central Bureau of Investigation (CBI). The CBI is also investigating the case, focusing on potential collusion by bank officials in the alleged siphoning and diversion of loans amounting to ₹40,000 crore. The court has directed the CBI to examine any nexus, collusion, or conspiracy and to take the investigation to its logical conclusion.

During the court proceedings, Anil Ambani, represented by his lawyer, assured the court that he would remain in India and not leave without the court's permission. The Solicitor General informed the bench that Look Out Circulars had already been issued against Ambani.

The ED has been actively pursuing the case, conducting searches at multiple locations and provisionally attaching assets worth ₹12,012.45 crore. The agency has also arrested individuals allegedly involved in the money laundering activities, including a former director of Reliance Communications Limited (RCOM).

The investigation primarily revolves around allegations of illegal loan diversions of approximately ₹3,000 crore, purportedly given by Yes Bank to Ambani's group companies between 2017 and 2019. The ED is scrutinizing the connections between the loans and alleged kickbacks received by Yes Bank promoters.

In related developments, the State Bank of India (SBI) has classified Reliance Communications (RCom) and Anil Ambani himself as "fraud" accounts.

While specific details regarding the summons to Anil Ambani's wife are still emerging, it signals an expansion of the investigation to include individuals closely associated with him. It is common practice for investigative agencies to question family members and associates to gather a comprehensive understanding of financial transactions and potential irregularities. The ED's actions indicate a determined effort to thoroughly investigate the allegations of money laundering and bank fraud against Anil Ambani and his group companies. The Supreme Court has requested status reports from both the ED and CBI within four weeks.