FEMA

India’s Enforcement Directorate (ED) has seized multiple bank accounts belonging to Reliance Infrastructure (R-Infra) as part of an ongoing probe into alleged violations of the Foreign Exchange Management Act (FEMA). The action involves a lien placed on funds exceeding Rs. 50 crore, following suspicions that company-linked entities routed money abroad through irregular transactions. While the agency claims funds were channelled via shell companies and questionable subcontracting structures, R-Infra has denied any wrongdoing and stated it is fully cooperating with investigators.

Anil Ambani has requested permission to join proceedings before the Enforcement Directorate (ED) through a virtual mode in an ongoing investigation under the Foreign Exchange Management Act (FEMA). The development comes as the industrialist faces scrutiny over alleged violations linked to offshore transactions and asset disclosures. Ambani’s plea reflects both legal strategy and logistical considerations, as agencies increasingly adapt to digital hearings.