Anil Ambani skips ED summons again in FEMA case
What's the story
Anil Ambani, the Chairman of Reliance Group, has skipped his appearance before the Enforcement Directorate (ED) for the second time in a Foreign Exchange Management Act (FEMA) case. He had earlier expressed his willingness to appear virtually or via recorded video. However, this was rejected by the ED which issued a fresh summons for today. It remains unclear if a third summons will be issued now.
Case details
ED's investigation linked to Jaipur-Reengus highway project
The ongoing ED probe is linked to the Jaipur-Reengus highway project. The agency had recently attached assets worth ₹7,500 crore belonging to Ambani and his companies under anti-money laundering law. A search against Reliance Infrastructure revealed that ₹40 crore was allegedly "siphoned" from this highway project. The funds were reportedly funneled through Surat-based shell companies to Dubai, exposing a larger international hawala network over ₹600 crore.
Clarification
Ambani's spokesperson clarifies his involvement in the case
Ambani's spokesperson clarified that the FEMA case is 15 years old and pertains to a road contractor. He added that Reliance Infrastructure awarded an EPC contract for building the JR Toll Road (Jaipur-Reengus highway) in 2010. The spokesperson emphasized this was a purely domestic contract with no foreign exchange component involved whatsoever, and since 2021, it has been with the National Highways Authority of India.
Statement
Ambani's non-executive role at Reliance Infrastructure
The spokesperson further clarified that Ambani is not a board member of Reliance Infrastructure. He served the company for about 15 years, from April 2007 to March 2022, only as a non-executive director. The statement said he was never involved in the day-to-day management of the company. This clarification comes amid ongoing investigations and questioning by the ED in connection with an alleged ₹17,000 crore bank fraud against his group companies.