The Supreme Court on Tuesday issued notices to the Centre, CBI, ED, Anil Ambani and others on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving Reliance Communications (RCOM), its group companies and their promoter.
 A bench comprising Chief Justice B R Gavai and Justice K Vinod Chandran took note of the submissions of lawyer Prashant Bhushan, appearing for PIL petitioner and former Union secretary E A S Sarma, and sought the replies within three weeks.
The bench has now posted the PIL for further hearing after three weeks.
Bhushan alleged that the probe agencies are not investigating the alleged complicity of banks and their officials in the huge banking fraud. He sought a direction to the CBI and the ED to file respective status reports with regard to the probe against banks and their officials in the case.
“Issue notice… returnable in three weeks. Let them file their replies,” the CJI said.
The PIL alleged systematic diversion of public funds, fabrication of financial statements and institutional complicity across multiple entities of the Anil Ambani–led Reliance ADA Group.
It said the FIR registered by the CBI on August 21, along with connected Enforcement Directorate  (ED) proceedings, addresses merely a small segment of the alleged fraud.
Despite detailed forensic audits flagging serious irregularities, the petition claims that neither agency is probing the role of bank officials, auditors or regulators, which he calls a “critical failure”.
The plea also said the findings of systematic fraud and diversion of funds have been judicially “recognised” in a decision of the Bombay High Court.