Anil Ambani offers to appear before ED virtually in 15-year-old FEMA case

Reliance Group chairman Anil Ambani has asked the Enforcement Directorate (ED) to allow him to appear through virtual means after being summoned by the agency under the Foreign Exchange Management Act (FEMA) for questioning on Friday.

A spokesperson for the 66-year-old industrialist said Ambani has written to the agency, assuring “full cooperation” in its investigation. Sources indicated that the ED had directed him to appear in person so that his statement could be recorded.

The probe relates to the Jaipur–Reengus Highway Project, with investigators suspecting that about Rs 100 crore was allegedly transferred abroad through hawala channels.

Several individuals, including purported hawala operators, have already been questioned, prompting the agency to summon Ambani, sources said. Hawala typically refers to the illegal transfer of funds, often in cash, outside formal banking systems.

Ambani has previously been questioned by the ED in connection with a separate money laundering probe linked to an alleged Rs 17,000 crore bank fraud involving group companies.

In a detailed statement, Ambani’s spokesperson said the FEMA matter dates back to 2010 and pertains to issues concerning a road contractor. Reliance Infrastructure Ltd had awarded an EPC contract that year for the construction of the JR Toll Road (Jaipur–Ringus Highway). The spokesperson emphasised that it was an entirely domestic contract “with no foreign exchange component whatsoever.”

The statement further noted that the JR Toll Road was fully completed and has been under the National Highways Authority of India (NHAI) since 2021.

Clarifying Ambani’s role, the spokesperson said he is not a member of the Reliance Infrastructure board. He served as a non-executive director from April 2007 to March 2022 and “was never involved in the day-to-day management” of the company.

The ED’s investigation into the alleged foreign exchange violations is ongoing.

With PTI inputs