Investigation into the Anil Ambani group’s funds parked abroad has spilt into the open. We learn that the trigger for SEBI's action was a letter to the regulator from an editor and Shiv Sena member of Parliament. Until then, details regarding the alleged diversion of funds were lying untouched by the two regulators, the Reserve Bank and SEBI. Naturally, any Ambani-related investigation is quickly attributed to the bitter battle between the two sons of Dhirubhai Ambani and is viewed with some scepticism by regulatory and enforcement agencies as well. In this case, too, we learn that SEBI was privy to this information well over a year ago and had not acted on it. However, the letter from the MP has apparently stirred up some action. It seems a senior SEBI official had been sent abroad to investigate the issue. Will SEBI's investigation outlast the Sena's interest in the issue and actually result in an order?
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