Industrialist Anil Ambani has written to Union finance minister Nirmala Sitharaman seeking a time-bound, structured settlement of outstanding bank dues, even as he faces ongoing investigations into alleged bank fraud involving more than ₹40,000 crore.
In a confidential letter dated 17 March 2026, Mr Ambani argued that a comprehensive settlement framework adopted in earlier cases should be extended to his situation, suggesting that such an approach would be both pragmatic and legally feasible. The letter forms part of a supplementary affidavit filed before the Supreme Court of India which is currently monitoring the investigation into alleged loan irregularities linked to the Reliance Anil Dhirubhai Ambani (ADA) group.
In his letter, Mr Ambani highlighted that the resolution involved coordination among agencies including the central bureau of investigation (CBI), the directorate of enforcement (ED), the serious fraud investigation office (SFIO), the Securities and Exchange Board of India (SEBI), and the income tax (I-T) department, along with lenders who agreed to settle without penal or overdue interest.
“I am in a materially superior position compared to fugitive companies and families,” Mr Ambani stated, adding that he has undertaken before the apex court not to leave India without prior permission.
The Reliance ADA group chairman has proposed the constitution of a lenders’ committee led by State Bank of India (SBI) and Bank of Baroda (BoB) to reconcile and crystallise the net principal exposure.
He has suggested that such a panel could design a structured repayment plan after accounting for recoveries under the Insolvency and Bankruptcy Code (IBC), inter-creditor agreements and asset monetisation.
In parallel, Mr Ambani says he approached the Supreme Court seeking the formation of either a three-member high-powered expert committee or a lenders’ panel to determine the actual outstanding dues.
"I have prayed before the Supreme Court for the constitution of a three-member high-powered committee (HPC) of independent legal and financial experts, or alternatively a committee of lenders, to consolidate and crystallise the net principal exposure to lenders after accounting for recoveries under IBC and inter-creditor agreement (ICA), asset monetisation, promoter infusions and other relevant issues. As a matter of record, the issues being scrutinised relate to transactions and events that are 10 to 20 years old," he wrote.
The development comes amid ongoing scrutiny by the Supreme Court which has expressed concern over the pace of investigations by central agencies.
A bench headed by chief justice of India Surya Kant, along with justices Joymalya Bagchi and Vipul Pancholi, recently directed that the probe be conducted in a 'fair, dispassionate, transparent, and time-bound' manner.
Court stressed that investigations must inspire confidence among stakeholders and be brought to a logical conclusion within a defined timeline.
Solicitor general Tushar Mehta informed the court that a special investigation team (SIT) has been constituted. Assets worth about ₹15,000 crore have already been attached and four arrests have been made.
During the proceedings, the Court also took note of allegations flagged by the ED regarding possible misuse of the IBC framework.
The agency cited instances where claims of around ₹2,983 crore were allegedly settled for just ₹26 crore through insolvency processes, raising concerns about potential irregularities involving financial institutions.
The bench observed that such findings warranted a deeper probe.
In his submissions, Mr Ambani argued that his group suffered 'collateral damage' due to crises in the telecom and financial services sectors.
He maintained that a structured resolution would serve the interests of lenders, help conclude multiple ongoing legal proceedings, and benefit more than 5mn (million) retail shareholders.
He also pointed to past cases where lenders negotiated settlements with promoters facing serious legal action, suggesting that a similar approach could be considered in his case.
However, the scale of the Reliance ADA group’s debt, estimated at about ₹3.44tn (trillion), presents a significant challenge for any potential resolution.
Regulators and lenders are expected to weigh the implications of ongoing fraud investigations and the need for financial accountability before taking a view on the proposal.
Mr Ambani’s move effectively seeks to open negotiations for a structured settlement under institutional and judicial oversight. The outcome will depend on the stance of the finance ministry, lenders, and regulatory bodies, as well as the progress of the ongoing probe.
With the Supreme Court closely monitoring the matter, the case is likely to remain under intense legal and financial scrutiny in the coming weeks.
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With Anil Ambani defaults and siphoning pegged at 73000 crore by CBI, there is no way he will bring an amount anywhere close on the table. The only way he can get this amount is by begging to his elder brother, as the matriarchs stake in family jewel is at best worth 1/3rd of the alleged siphoning by CBI.
Anil Ambani is facing the most crucial week of his life starting today. April 30th is a date, which can see him behind bars; and he has prepared himself mentally of the lap from abode to Tihar. He will make a desperate attempt in next 72 hours with a new leaked story, but considering the evidence Garg accidentally provided, or the smokescreen he and Amitabh Jhunjhunwala planned, may well see him behind bars. The marathon man he is, may see a marathon stay if he is made a house guest at Tihar.
And as far as one battle Sandesara brothers still face is a case that will come up for hearing a day before Anil Ambani’s D-day. And this time it will be a district judge who will hear and pass the order. They still have not bought full freedom, and still have a tough battle ahead, to face on April 29th.
Will a man who is on a salvage mode, be interested in clearing debtors… he has been busy sending his 2 bombardiers out of India as soon as possible. Though leased through an aircraft leasing company, the ultimate owner of those 2 aircraft’s might also be potentially linked. The same owner and the same user of the leased planes. All we know, DGCA may eventually allow the 2 multi million bombardier jets, to leave India. Only CBI and ED have the authority to stop these two private jets from leaving Indian shores, to get out of bounds for a potential attachment.
April 30th is the day Anil Ambani wants them to out of India under any circumstances. Will he be successful depends on how soon agencies can move to stop the passenger less flights. And if they need evidence of the potentially linked owner behind a global corporate veil, Amitabh Jhunjhunwala is enjoying the government hospitality free of cost for 10 days already, and can spill out the beans if asked the right questions in the right circumstances
ED and CBI don’t have settlement procedures like SEBi and CBDT have. If the financial transactions (thousands of them) reveal a criminal intent, no form of settlement can absolve the perpetuators and beneficiaries from criminal liabilities