Tue Nov 18 06:41:40 UTC 2025: Here’s a summary and a rewritten news article based on the provided text:

Summary:

The Supreme Court of India has agreed to examine a petition alleging a massive 20,000 crore INR banking and corporate fraud involving Reliance Communications (RCom), its group companies, and promoter Anil Ambani. The petition, filed by former government secretary E.A.S. Sarma, seeks a court-monitored probe into the alleged systematic diversion of public funds, fabrication of financial statements, and institutional complicity within the Anil Ambani-led Reliance ADA Group. The petition highlights a forensic audit commissioned by SBI in 2020 that purportedly revealed large-scale diversion of funds from loans secured by RCom and its subsidiaries between 2013 and 2017. A key concern is SBI’s delay in acting upon the audit report, raising questions about institutional complicity.

News Article:

Supreme Court to Investigate Alleged ₹20,000 Crore Fraud Involving Reliance Communications

NEW DELHI, November 18, 2025 – The Supreme Court of India has agreed to hear a petition alleging a massive banking and corporate fraud scheme involving Reliance Communications (RCom), its subsidiaries, and its promoter, Anil Ambani. The Bench, led by Chief Justice B.R. Gavai, issued a notice on a Public Interest Litigation (PIL) filed by former government secretary E.A.S. Sarma, calling for a court-monitored investigation into the allegations.

The petition claims that RCom, along with its group companies, engaged in the systematic diversion of public funds and fabricated financial statements, facilitated by institutional complicity. Advocate Prashant Bhushan, representing Mr. Sarma, argued that the fraud amounts to ₹20,000 crore.

The PIL highlights loans worth ₹31,580 crore secured by RCom and its subsidiaries from a consortium of banks led by the State Bank of India (SBI) between 2013 and 2017. A forensic audit commissioned by SBI in October 2020 allegedly uncovered “large-scale diversion of funds,” including using substantial amounts to repay unrelated loans. The audit also reportedly revealed that subsidiaries wrote off significant liabilities through sham preference-share arrangements, causing losses of over ₹1,800 crore.

A central point of contention is SBI’s nearly five-year delay in acting upon the forensic audit report, finally filing a complaint only in August 2025. The petition alleges potential “institutional complicity” and raises questions about the roles of bank officials and regulators in the alleged fraud. The case will now be examined by the Supreme Court.

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