look news india
Industrialist Anil Ambani’s company Reliance Infrastructure (R-Infra) is once again in big trouble. The Enforcement Directorate (ED) has taken a major action against the company and Freeze 13 bank accounts has been done, in which total Rs 54.82 crore are deposited. The allegation is very serious – misappropriation of government money received for building highways and sending it abroad illegally.
What is the full allegation of ED?
The Enforcement Directorate says that Reliance Infrastructure committed this alleged irregularities through its subsidiaries (SPVs).
- How did the game happen? It is alleged that the company embezzled the government money released for the highway construction projects it had received from the National Highways Authority of India (NHAI).
- Money went abroad: ED alleges that this money was sent out of the country illegally, which is a direct violation of the Foreign Exchange Management Act (FEMA) law.
Anil Ambani did not arrive for questioning
How serious ED is about investigating this case can be gauged from the fact that the agency itself had called Anil Ambani for questioning last month. But, he did not appear before the agency to record his statement.
No comment has yet come from Reliance Infrastructure on this entire action.
What did ED say in its statement?
ED clearly said that transactions from 13 bank accounts of Reliance Infrastructure Limited have been banned on charges of violation of the Foreign Exchange Management Act (FEMA). A total of Rs 54.82 crore is deposited in these accounts. The agency’s investigation is still ongoing.