Anil Ambani Faces ED Probe: Allegations of Financial Mismanagement Resurface

Anil Ambani, chairman of the Reliance Group, has been summoned by the Enforcement Directorate under the FEMA. Despite offering to appear virtually, the agency requires his physical presence. The probe involves a 2010 road project and international money transfers, with assets worth Rs 7,500 crore attached recently.

Anil Ambani, the Reliance Group chairman, has been summoned by the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA), seeking his physical presence despite his offer to appear virtually.

The ED probe involves the Jaipur-Reengus Highway Project from 2010, with allegations of Rs 40 crore siphoned through international networks and assets worth Rs 7,500 crore attached recently.

While Ambani assured full cooperation in the investigation, this development reignites scrutiny over previous financial mismanagement allegations linked to his companies.

(With inputs from agencies.)