Anil Ambani wants virtual appearance before ED in 15-year-old case
What's the story
Anil Ambani, the Chairman of Reliance Group, has offered to appear before the Enforcement Directorate (ED) through "virtual means." The offer comes after he was summoned by the agency under the Foreign Exchange Management Act (FEMA). His spokesperson confirmed that Ambani is ready to cooperate fully with the ongoing probe. The investigation relates to a 15-year-old case involving a highway project.
Case details
ED's summons and Ambani's response
The ED had asked Ambani to appear in person today and record his statement under FEMA. However, his spokesperson clarified that the summons is only related to a FEMA inquiry and not any matter under the Prevention of Money Laundering Act (PMLA).
Project scrutiny
Investigation linked to Jaipur-Reengus highway project
The ongoing investigation is related to the Jaipur-Reengus Highway Project, where the ED suspects that around ₹100 crore was transferred abroad through illegal channels. The spokesperson clarified that this is a 15-year-old case dating back to 2010 and involves issues related to a road contractor. Reliance Infrastructure Ltd. had awarded an EPC contract for the construction of this toll road in 2010, which was purely domestic with no foreign exchange component involved whatsoever.
Project completion
Toll road's current status and Ambani's role
The Jaipur-Reengus Toll Road has been fully completed and with the National Highways Authority of India (NHAI) since 2021. The spokesperson also clarified that Ambani was not involved in the project's operations at the time. He served as a non-executive director at Reliance Infrastructure from April 2007 to March 2022, but was never involved in day-to-day management of the company. Currently, he is not on the company's board.