Anil Ambani Cooperates with ED via Virtual Means Amid FEMA Investigation

Reliance Group chairman Anil Ambani has offered to appear via virtual means before the Enforcement Directorate following summons under the Foreign Exchange Management Act. The ED is investigating fund movements in the Jaipur-Reengus Highway Project linked to alleged hawala transactions amounting to Rs 100 crore.

Anil Ambani, chairman of the Reliance Group, has proposed appearing virtually before the Enforcement Directorate (ED) after summons under the Foreign Exchange Management Act (FEMA) arose. His response came as a federal probe investigates potential fund transfers overseas related to the Jaipur-Reengus Highway Project using hawala channels.

The ED summoned Ambani to provide his statement regarding funds linked to this project, where approximately Rs 100 crore is suspected of being illegally moved abroad. This investigation is part of a broader effort examining potential financial misconduct.

Ambani emphasized his cooperation while clarifying the 15-year-old issue is linked to a domestic contract involving no foreign exchange. He served as a non-executive director for Reliance Infrastructure, having no direct involvement in the company's daily operations.

(With inputs from agencies.)