The Supreme Court on Tuesday issued notice to the Union government, directorate of enforcement (ED), central bureau of investigation (CBI) and businessman Anil Ambani on a public interest litigation (PIL) petition seeking a court-monitored investigation into what the petitioner describes as a massive banking fraud involving Reliance Communications (RCOM), its group entities and its former promoter. The PIL, filed by EAS Sarma, a former secretary to the government of India, alleges systemic diversion of funds, fabrication of financial statements, the use of shell entities and failure of regulatory oversight in what is claimed to be one of the country’s most significant financial scandals. A bench led by chief justice of India (CJI) BR Gavai and justice Vinod Chandran sought the respo
Anil Ambani–RCom Bank Fraud: SC Issues Notice to Govt, CBI and ED on PIL Filed by Former Secretary EAS Sarma
Moneylife6 hrs ago
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