Undertaking Filed Before the Apex Court
The assurance was placed on record through a compliance affidavit filed before the Supreme Court in connection with a public interest litigation (PIL) initiated by EAS Sarma. The affidavit reiterates Ambani’s commitment not to travel abroad without the Court’s consent.
The development follows an earlier hearing on February 4, during which Ambani’s counsel, Senior Advocate Mukul Rohatgi, informed the Court that his client would not leave the country without permission.
In his affidavit, Ambani stated that he has not travelled outside India since July 2025, when the investigations commenced, and currently has no plans for foreign travel. He further undertook to seek prior judicial approval if any such need arises.
Probe by ED and CBI
Ambani is under investigation by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) over alleged financial irregularities linked to RCOM and its subsidiaries.
The agencies are examining allegations of large-scale fund diversion and irregular loan transactions. According to the petition before the Court, RCOM and its subsidiaries Reliance Infratel and Reliance Telecom obtained loans totalling ₹31,580 crore between 2013 and 2017 from a consortium of banks led by the State Bank of India.
The CBI registered a First Information Report (FIR) in August 2025, while parallel proceedings are underway under the Prevention of Money Laundering Act (PMLA), 2002.
Allegations of Fund Diversion
The PIL cites findings from a forensic audit commissioned by State Bank of India, which reportedly flagged significant diversion of funds. Allegations include the use of borrowed money to repay unrelated loans, transfers to related entities, and complex routing of funds.
The petition contends that only a portion of the alleged wrongdoing is currently being investigated and argues that roles of certain bank officials and regulators require deeper scrutiny.
It has sought judicial oversight to ensure a comprehensive probe into the alleged exposure of public funds.
Supreme Court Orders SIT
On February 4, the Supreme Court directed the Enforcement Directorate to constitute a Special Investigation Team (SIT) to examine the allegations in detail. The Court also instructed the CBI to probe any potential collusion involving bank officials in sanctioning or monitoring the loans.
The Court’s intervention underscores the gravity of the matter, given the scale of the alleged financial exposure and its implications for the banking sector.
Ambani’s Clarification on Role
In his affidavit, Ambani clarified that his involvement in the concerned companies was limited to that of a non-executive director. He stated that he was not engaged in day-to-day operational management.
The affidavit further noted that he has been cooperating with investigative authorities and has responded to summons issued by the ED. His examination under Section 50 of the PMLA is reportedly ongoing.
Ambani reiterated his commitment to continue cooperating with all investigative processes while the matter remains under judicial consideration.
Wider Implications
The case has drawn attention due to the substantial loan amounts involved and its potential impact on public sector banks. Legal experts note that the Supreme Court’s oversight and formation of an SIT signal a heightened level of scrutiny.
As proceedings continue, the focus remains on ensuring accountability and safeguarding public funds. The matter is expected to see further hearings in the coming weeks.
