Overview
- The ED’s Special Task Force froze 13 bank accounts holding ₹54.82 crore under FEMA Section 37A for alleged contraventions of Section 4.
- Officials say R-Infra-linked SPVs diverted highway project funds via sham subcontracts to shell companies set up in Mumbai with dummy directors.
- The agency alleges the money was layered through multiple entities and wired to UAE beneficiaries with Hong Kong accounts as purported diamond import payments without any goods or documentation.
- The identified shell network is linked to international hawala transactions exceeding ₹600 crore, according to the ED.
- Reliance Infrastructure disclosed an ED lien of ₹77.86 crore in a regulatory filing, and Anil Ambani was twice summoned as the investigation advances.