New Delhi. The Enforcement Directorate (ED) has raided six places from Mumbai to Madhya Pradesh, taking strict action on Anil Ambani’s company Reliance Infra. The raid has been conducted in the context of the ongoing investigation under the Foreign Exchange Management Management Act (FEMA) on allegations of illegal transmitting funds abroad. The ED is already investigating the allegations of financial irregularities worth Rs 17 thousand crore on several companies of Anil Ambani Group. The ED had registered a case under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
In fact, the ED has taken action on the basis of a SEBI report. R. Infra is alleged to have diverted illegal money as an inter-corporate deposit in Reliance Group companies through a company named CLE. Also, CLE was not shown as a concerned party to avoid the approval of shareholders and audit panels. However, the Reliance Group denied the allegations, denying any financial disturbances of this type. The statement issued by the company said that the charge of financial rigging of Rs 10,000 crore is about 10 years old.
The company also stated that its actual risk was only about Rs 6,500 crore, about which it had already made public public. Reliance Infra publicly disclosed the case on 9 February this year, stating that the company has reached the agreement to recover the risk by a retired judge of the Supreme Court, through compulsory arbitration proceedings and arbitrations filed before the Bombay High Court. At the same time, it has also been clarified by the company that Anil Ambani is not included in Reliance Infra’s board members since March 2022.