Expressing displeasure over “unexplained delay” in investigations, the Supreme Court on Wednesday directed the CBI and the ED to conduct a “fair”, “prompt” and “dispassionate” probe into alleged massive banking and corporate fraud to the tune of Rs 40,000 crore involving Anil Dhirubhai Ambani Group (ADAG), Anil Ambani and group companies.A Bench led by CJI Surya Kant sought fresh status reports in four weeks from the two probe agencies on the progress made in the ongoing probe against Ambani and ADAG companies.”Both ED and CBI have already taken time, and we therefore expect that both agencies will act promptly,” the Bench said, directing the ED to constitute an SIT of senior officers to promptly take the probe against ADAG and others to a logical conclusion.The Bench disapproved of the CBI’s procedural approach, pointing out that the probe agency registered only one FIR in 2025 based on a complaint from the State Bank of India, despite receiving subsequent complaints from various other financial institutions. “The approach adopted by the CBI does not seem to be in conformity with procedural law,” the CJI said, adding each bank’s complaint constituted a separate transaction and warranted an independent FIR.The top court asked the CBI to expand the scope of its probe to include the potential “collusion” of bank officials.As PIL petitioner and former bureaucrat EAS Sarma’s counsel Prashant Bhushan expressed an apprehension that Anil Ambani may flee, senior counsel Mukul Rohatgi, representing the industrialist, told the Bench that he will not leave India without its prior permissionSolicitor General Tushar Mehta informed the bench that ‘Look Out Circulars’ had already been issued against Ambani. The total amount allegedly siphoned off through various ADAG companies is approximately Rs 40,000 crore, he said.Referring to the affidavit of the ED, the Bench said the loans of Reliance Communications exceeded Rs 40,000 crore and the probe agency assessed the “proceeds of crime” at over Rs 20,000 crore. Assets worth Rs 8,078 crore have already been provisionally attached, the ED said.The Supreme Court had on January 23 issued fresh notices to industrialist Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on Sarma’s PIL seeking a court-monitored probe into alleged large-scale banking and corporate fraud involving the group and its associate entities. It had asked the CBI and the ED to file status reports in sealed covers in 10 days on the progress of their respective probe into the alleged fraud.On November 18, 2025, the top court had issued notices to the Centre, CBI, ED, Anil Ambani, and ADAG on the PIL. Noting that Ambani and the ADAG group had not responded yet, the top court said this would be their final opportunity to respond to the petition.