ED summons: Reliance Group chairman Anil Ambani offers to appear ‘virtually’; probe on under FEMA
Anil Ambani has responded to the Enforcement Directorate‘s summons by requesting to appear via “virtual means” for the Friday meeting. Anil Ambani is the Reliance Group chairman.The 66-year-old business leader’s spokesperson released a statement indicating that Ambani has written to the agency, pledging “full cooperation” in the ongoing Foreign Exchange Management Act (FEMA) investigation.According to a PTI report, the agency had originally requested Ambani’s physical presence on Friday to record his statement under FEMA provisions.The investigation centres on the Jaipur-Reengus Highway Project, where authorities suspect approximately Rs 100 crore was transferred overseas through illegal channels.Following interviews with several individuals, including suspected unauthorised money transfer operators, the ED determined it necessary to question Ambani, according to sources quoted in the report.The term hawala refers to the unlawful transfer of funds, primarily involving cash transactions.Anil Ambani has once faced ED questioning regarding a money laundering investigation involving alleged bank fraud of Rs 17,000 crore against his group companies.A statement clarified that the FEMA case originated in 2010, approximately 15 years ago, concerning matters with a road contractor. During that year, Reliance Infrastructure Ltd. granted an EPC contract for the JR Toll Road (Jaipur-Ringus Highway) construction.The statement emphasised that it was strictly a domestic contract without any foreign exchange elements. Since 2021, the completed JR Toll Road has been under the National Highways Authority of India (NHAI) management.The statement further noted that Ambani holds no position on Reliance Infrastructure’s Board. His association with the company spanned from April 2007 to March 2022, serving exclusively as a non-executive director without involvement in daily operational matters.
