The Enforcement Directorate (ED) announced on Wednesday that it has seized more than a dozen bank accounts belonging to Reliance Infrastructure, a company under the Anil Ambani Group, as part of an ongoing investigation under the Foreign Exchange Management Act (FEMA). The accounts collectively hold deposits amounting to approximately ₹55 crore.
According to the agency, Reliance Infrastructure Ltd (R-Infra) and its special purpose vehicles (SPVs) allegedly diverted public money allocated for National Highways Authority of India (NHAI) construction projects. The ED claims the funds were moved out of India through unlawful channels.
read also: CBI Books Anil Ambani’s Son, Jai Anmol Ambani, in Rs 228 Crore Cheating Case Involving Union Bank of India
In its statement, the agency said that 13 bank accounts with a total balance of ₹54.82 crore have been seized for FEMA violations. The ED further alleged that the diverted funds were routed to shell companies in Mumbai through fraudulent sub-contracting arrangements.
R-Infra has not yet issued a comment on the development.
The agency also noted that Anil Ambani had been summoned for questioning in connection with the case last month but did not appear before investigators.
Discussion about this post