Supreme Court Pulls Up ED, CBI Over Delay in Probing ₹40,000 Crore ADAG Loan Frauds

The Supreme Court criticised the ED and CBI for unexplained delays in probing alleged bank loan frauds worth over ₹40,000 crore involving ADAG companies.

The Court questioned why the CBI registered only one FIR despite multiple complaints from different banks, noting that each complaint constitutes a separate transaction.

It also directed an investigation into possible collusion by bank officials and urged both agencies to conclude the probe expeditiously.

During the hearing, Anil Ambani, through counsel, undertook not to leave India without prior court permission, which the Court formally recorded.

[EAS Sarma v. UOI & Ors.]