Prashant Bhushan vs Kapil Sibal & Tushar Mehta| ₹20,000 Crore Scam, 'Kingpin' Debate Intensifies

Case- W.P.(C) No. 1217/2025 EAS SARMA Versus UNION OF INDIA AND ORS. A high-voltage hearing unfolded in the Supreme Court as Senior Advocate Prashant Bhushan, Senior Advocate Kapil Sibal, and Solicitor General Tushar Mehta locked horns over the progress of the investigation into the alleged ₹20,000 crore banking fraud. Referring to the Court's earlier order, Prashant Bhushan argued that the investigating agencies had earlier assured the Bench that multiple charge sheets would be filed within a stipulated timeline, but according to him, no updated status report had been placed before the Court despite the passage of time. He further contended that while previous SEBI findings and an earlier CBI charge sheet allegedly described the former chairman of the group as the "kingpin" of the fraud, there was no disclosure regarding the action taken or findings recorded against him in the ongoing investigation. Bhushan emphasized that the investigation should transparently reveal the role of all key individuals instead of focusing only on subordinate officials. Responding for the investigating agencies, Solicitor General Tushar Mehta informed the Court that investigations were progressing and clarified that charge sheets had already been filed in three cases, while four prosecution complaints had been filed by the Enforcement Directorate, with the remaining investigations continuing. He opposed any judicial scrutiny of the contents of the charge sheets at this stage, arguing that once a charge sheet is filed before the competent court, questions regarding individual culpability are matters for the trial court and that any observations by the Supreme Court could prejudice pending criminal proceedings. Senior Advocate Kapil Sibal also opposed the course suggested by the petitioner, stressing that judicial comments on filed charge sheets could adversely affect proceedings before the trial court. The Bench carefully balanced both sides' concerns, observing that it must avoid making any remarks that could influence pending prosecutions while also ensuring that the investigation progresses in accordance with earlier assurances given to the Court. The Court recorded the statement of the Solicitor General regarding the filing of charge sheets and prosecution complaints, accepted the latest status report on record, granted time for filing a further status report, and directed that the matter be listed for further consideration. Watch this video for the complete courtroom exchange as Prashant Bhushan, Kapil Sibal, and Tushar Mehta debate the pace of the investigation, the role of the alleged "kingpin," and the limits of judicial oversight once charge sheets have been filed.