India, May 1 -- The Supreme Court on Thursday deferred to May 8 the hearing on a PIL alleging large-scale banking fraud involving the Anil Dhirubhai Ambani Group and its firms.

A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi was hearing the PIL filed by former bureaucrat EAS Sarma seeking a court-monitored investigation into alleged loan frauds exceeding '40,000 crore by the Anil Dhirubhai Ambani Group (ADAG) firms led by Anil Ambani. At the outset, Solicitor General Tushar Mehta, appearing for the CBI and the Enforcement Directorate, said the two central probe agencies have filed fresh status reports in pursuance of directions issued on March 23 in the case.

"The CBI and the ED have filed status reports. The kin...