Reliance Group Chairman Anil Ambani Offers Virtual Appearance To ED After Skipping Summons Amid FEMA Probe

Mumbai: Reliance Group chairman Anil Ambani has offered to appear before the Enforcement Directorate (ED) through virtual means, following summons issued to him under the Foreign Exchange Management Act (FEMA) for Monday.

In a statement, a spokesperson for the 66-year-old businessman said Ambani had expressed his willingness to make himself available for the recording of his statement at any date and time convenient to the ED, either via a virtual appearance or a recorded video statement.

Anil Ambani on Friday skipped a FEMA-related summons and instead offered to join the proceedings virtually.The ED, however, rejected his request for a virtual deposition and issued a second summons, directing the Reliance Anil Dhirubhai Ambani (ADA) Group chairman to appear in person at the agency’s Delhi headquarters on Monday, November 17.

About The Case

The Enforcement Directorate (ED) has issued a fresh summons to Reliance Anil Dhirubhai Ambani (ADA) Group chairman Anil Ambani, directing him to appear in person at its Delhi office on November 17. This follows the ED’s rejection of Ambani’s request to participate virtually in the investigation under the Foreign Exchange Management Act (FEMA). Ambani had expressed willingness to cooperate and appear virtually but the agency insisted on a physical presence.

The summons relate to a 15-year-old probe concerning the Jaipur–Reengus Highway project, where the ED suspects that around Rs 100 crore was illegally remitted abroad via hawala channels. The investigation focuses on alleged financial irregularities linked to the Engineering, Procurement and Construction (EPC) contract awarded by Reliance Infrastructure Ltd (RInfra) to Prakash Asphaltings & Toll Highways (PATH) in 2010 for the highway project, completed in 2013.

The ED suspects inflated project costs and that surplus funds were diverted illegally through a network of shell companies based in Surat, with money ultimately transferred to Dubai. These companies reportedly had little genuine business activity and were used to obscure the money trail. In September, the ED conducted searches at several premises related to RInfra and its contractors.

RInfra denied any foreign exchange violations, stating the EPC contract was purely domestic and that Ambani, who served as a non-executive director until 2022, was not involved in daily operations. The ED’s probe is part of a broader investigation into past financial dealings connected to the project, uncovering a hawala network allegedly exceeding Rs 600 crore.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/