Particle.news
Download on the App Store

Supreme Court Issues Notice on PIL for Court‑Monitored Probe Into Alleged RCom Bank Fraud

The petition alleges institutional failure—SBI’s long delay plus limited probes by CBI, ED.

Overview

  • Chief Justice B. R. Gavai and Justice K. Vinod Chandran sought replies within three weeks from the Centre, CBI, ED, Anil Ambani and the ADAG group.
  • E A S Sarma filed the Article 32 petition, argued by Prashant Bhushan, seeking a Supreme Court‑supervised investigation and status reports from the agencies.
  • RCom and affiliates are alleged to have borrowed ₹31,580 crore between 2013 and 2017 from an SBI‑led consortium, with forensic audits citing large‑scale diversion through related parties and shell firms.
  • SBI received a forensic audit in October 2020 but lodged a complaint only in August 2025, after which the CBI filed an FIR alleging a ₹2,929 crore loss.
  • The plea says current probes overlook the role of bank officials, auditors and regulators, cites entities such as Netizen Engineering and Kunj Bihari Developers, notes no arrests or major asset freezes, and seeks an SIT plus an expert reform panel.