Overview
- ED’s Special Task Force executed a Section 37A provisional seizure and froze 13 Reliance Infrastructure bank accounts over alleged Section 4 violations.
- Officials say R-Infra SPVs siphoned money from NHAI projects through sham subcontracting to a cluster of Mumbai-based shell companies.
- The agency reports the funds were layered and remitted to UAE and Hong Kong as purported diamond import payments with no goods or documentation traced.
- Investigators link the recipient entities to illegal hawala operations and cite suspect flows exceeding about ₹600 crore.
- The ED says the diversions strained project SPVs, pushed bank loans into NPAs, and led it to summon Anil Ambani twice after rejecting his offer of a virtual deposition.