New Delhi: The ED Wednesday said it has seized over a dozen bank accounts, holding about Rs 55 crore worth of deposits, of Anil Ambani Group company Reliance Infrastructure as part of a FEMA investigation.
It is alleged that Reliance Infrastructure Ltd (R-Infra), through its special purpose vehicles (SPVs), siphoned public funds from highway construction projects awarded by the NHAI and sent them abroad illegally.
There was no immediate comment from R-Infra on the development.
The ED has seized 13 bank accounts having a balance of Rs 54.82 crore of Reliance Infrastructure Ltd. for contravention of the Foreign Exchange Management Act (FEMA), the federal probe agency said in a statement.
Funds were diverted under the guise of sham sub-contracting arrangements to shell companies in Mumbai, it said.
The ED had summoned Ambani for questioning in this case last month, but he did not depose.
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