Anil Ambani Assures Supreme Court He Will Not Leave India without Permission

SN Thyagarajan (Bar and Bench) 19 February 2026

Economy & Nation

Industrialist Anil Ambani has filed an undertaking before the Supreme Court that he will not leave India without prior permission of the Court and will continue to cooperate with investigating agencies in connection with probe against him for large-scale bank fraud by Reliance Communications (RCOM) its group entities (EAS Sarma Vs Union of India).

Ambani is currently being probed by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) in connection with the fraud.

The undertaking by Ambani was filed in response to a public interest litigation petition filed by one EAS Sarma.

The undertaking was filed after the Supreme Court on February 4 recorded a statement by Ambani's lawyer, Senior Advocate Mukul Rohatgi, that Ambani would not travel abroad without the Court’s permission.

In the compliance affidavit, Ambani formally reiterated the assurance and placed it on record as an undertaking before the Court. He stated that he has not left India since July 2025, when the present investigations began, and currently has no intention to travel abroad.

He further undertook that if any requirement for foreign travel arises, he will seek prior permission from the Court before undertaking such travel.

The affidavit emphasised that Ambani has been cooperating with investigating agencies and will continue to do so. It stated that he has been summoned by the Directorate of Enforcement and has undertaken to appear and join the investigation on the scheduled date.

The affidavit also said that his examination under Section 50 of the Prevention of Money Laundering Act, 2002 is currently underway during the pendency of proceedings before the Supreme Court.

Ambani clarified that his role in the companies concerned was only that of a non-executive director and that he was not involved in their day-to-day management or operational affairs.

According to the petition before the Court, RCOM and its subsidiaries - Reliance Infratel and Reliance Telecom - received loans amounting to ₹31,580 crore between 2013 and 2017 from a consortium of banks led by State Bank of India (SBI).

As per the plea, a forensic audit commissioned by SBI revealed substantial diversion of funds, including thousands of crores used to repay unrelated loans, transfers to related parties, investments in mutual funds and fixed deposits that were immediately liquidated, and complex circular routing of money to disguise evergreening of loans.

The plea has asserted that the FIR registered by the CBI on August 21, 2025, and the connected ED proceedings cover only a fraction of the alleged wrongdoing.

According to the petition, the agencies are not investigating the roles of bank officials and regulators despite detailed forensic audits and independent reports pointing to widespread fraud.

As per the petitioner, only judicial oversight can ensure that a matter involving such extensive public money exposure is thoroughly investigated.

On February 4, the Supreme Court directed the Enforcement Directorate to constitute a Special Investigation Team (SIT) to probe the allegations.

The Court also directed CBI to ensure that any possible collusion by bank officials in the alleged fraud is investigated.

Courtesy: Bar & Bench

Comments

User

pentaserviceinc

3 months ago

Anil Ambani assuring that he wont leave India without prior permission is a big joke. There is a Lookout Notice against him since July 2025, as widely reported in the media. If he even attempts to take an international flight, he will be stopped at immigration desk.

Though he and Tina Ambani may claim that the proceeds of plush Manhattan apartment, with a central park view, located at 25 Columbus Circle, were reversed after the IRP caught the money laundering, the fact that the whole transaction was illegal cannot be forgotten. The gate records of this 80 story apartment, and the room service bills of Mandarin Oriental Hotel that the Ambani family used this company owned apartment for personal use will soon be in possession of the agencies. (The lower floors of the building houses the plush Mandarin Oriental Hotel, after Time Warner sold the property. Restaurants of Mandarin Oriental hotel provide room service to the 159 odd apartments in the building). The global subsidiaries of RCOM used to pick up the room service bills of the family too.

Not to forget that the crime was linked to a property located in US, by using a US incorporated company. It is just a matter of time that Department of Justice will step up the accelerator in this probe. It is rumored that the disgraced former director of Bonn Investments Inc., Vaishali Mane has already given a statement that she was asked to sign on the sale by the now jailed ex-director of RCOM Punit Garg. If and when Vaishali Mane cuts a deal with US agencies, Punit Garg and possibly Anil and Tina Ambani will come under the direct line of investigation on US soil.

What makes the entire episode murkier is the use of a Pakistani linked individual for laundering the sale proceeds of 25 Columbus Circle apartment. With past signs of co-operation between India and Dubai, getting information on inward and outward transactions should not be a problem for Indian agencies. This may further get linked to the diversion of funds by Reliance Infra from the Jaipur - Reengas highway project, that is also under purview of the SIT.

This meaningless affidavit filed by Anil Ambani is undoubtedly a last ditch attempt by him to avoid getting arrested on February 26th when he appears at ED office. Expressing full cooperation to the agencies, the line of response of Anil Ambani can be easily presumed of (i) not knowing operational matters (ii) memory loss (iii) transactions handled by his senior employees et al. Even if Anil Ambani leaves ED office on Feb 26th evening, his appearance would have paved the way for the next attachment, the only known assets left unattached. The promoter group stake of close to 19% primarily through Risee Infinity in Reliance Infrastructure valued approximately Rs. 800 crore; which in turns owns approx 25% stake in Reliance Power valued at Rs. 2900 crore. If these stakes are attached, Anil Ambani will be left with no listed company in his portfolio. The value of Reliance Power is highly undervalued considering it operates power capacities of close to 5500 MW, which would see tremendous buyer interest.

The end game for Anil Ambani is coming closer. Even if he manages to stay out of Tihar, there wont be any listed company he would directly control by end-2026. With banks getting overtly cautious, the companies have already started facing a cash squeeze. With agencies tightening their leash over Anil Ambani, its a matter of time that the employees of listed companies who were managing the privately owned companies will move out of his shackles. At that time, there will be a few hundred privately held or inter-locked companies with no one to manage them, unless the recently retired Sateesh Seth sets up a CA / CS firm to handle their accounts and filings. After all, who knows the web, and past fund movements, better than him.