Supreme Court stresses fair and time-bound investigation in Anil Ambani-led RCom loan fraud

NEW DELHI: The Supreme Court on Monday stressed the need for a coordinated, fair, and time-bound investigation into alleged large-scale bank frauds linked to Anil Ambani's Reliance Communications (RCom) and its group entities. 

A bench, headed by Chief Justice of India (CJI) Surya Kant, observed that investigating agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) must "join hands" and work in coordination to unearth the truth in a transparent and independent manner.

The bench, also comprising Justices Joymalya Bagchi and Vipul M Pancholi, remarked that the probe must be carried out in a time-bound manner so that it inspires confidence not only in the court but also among the public.

"The investigation should reveal what has been done and what has been found," the apex court said, adding that reluctance on the part of agencies was "not acceptable".

At the same time, the CJI-led Bench clarified that it could not direct arrests in the matter, even as it flagged concerns over the manner in which the investigation has progressed so far.

During the hearing, advocate Prashant Bhushan, appearing for the petitioner, contended that despite the availability of material, the CBI has not made any arrests in the case.  (IANS)

Also Read: Anil Ambani Group fraud cases: Central Bureau of Investigation (CBI) summons top executives