**Mumbai: ED Conducts Searches at Reliance Infrastructure Premises in FEMA Probe**
The Enforcement Directorate (ED) on Tuesday conducted searches at six premises of Anil Ambani-linked Reliance Infrastructure Ltd (RInfra) located in Indore (Madhya Pradesh) and Mumbai (Maharashtra). The searches form part of an ongoing probe into alleged illegal remittances abroad, reportedly violating the Foreign Exchange Management Act (FEMA), according to official sources.
### ED Probes Transactions with Yes Bank
Sources revealed that the current FEMA-related searches are connected to the Jaipur–Ringus Toll Road, operated by JR Toll Road Pvt Ltd, a subsidiary of RInfra. The ED is scrutinizing transactions made with Yes Bank between 2017 and 2019, alleging unauthorized transfer of funds abroad and non-compliance with FEMA regulations.
In June 2025, RInfra settled a ₹273 crore loan for the project, which was previously classified as a non-performing asset, with the company acting as the corporate guarantor. While the Engineering, Procurement, and Construction (EPC) contract for the toll road was entirely domestic, officials are investigating whether funds were routed abroad indirectly through internal transactions or inter-corporate deposits (ICDs) without approval from the Reserve Bank of India (RBI).
The probe also focuses on the non-disclosure of related parties such as CLE, which may have been used to mask the movement of funds.
### Reliance Infrastructure’s Response
RInfra maintains that the project involved no foreign exchange and stated it is fully cooperating with authorities. The company emphasized that its operations remain unaffected by the probe.
In a statement released on Tuesday, Reliance Infrastructure described the ED action as “dated” and unrelated to foreign exchange. The statement read:
> “In 2010, the company had awarded an EPC contract for the Jaipur–Ringus Toll Road to Prakash Asphaltings & Toll Highways. This was a domestic contract with no foreign exchange involved. The work was completed, and RInfra has had no continuing connection with the contractor. The toll road has been with NHAI for the last four years.”
The company reiterated its full cooperation with the authorities and stressed that the matter has “absolutely no impact” on its operations, financial performance, employees, shareholders, or stakeholders.
### Over ₹17,000 Crore Financial Irregularities Under Investigation
The ED has been investigating alleged financial irregularities and collective loan “diversion” amounting to over ₹17,000 crore by multiple group companies under Anil Ambani, including Reliance Infrastructure. These investigations are being conducted under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
The agency’s action followed a report from the Securities and Exchange Board of India (SEBI), which alleged that RInfra “diverted” funds disguised as inter-corporate deposits (ICDs) to other Reliance Group companies via a company named CLE. It was claimed that RInfra did not disclose CLE as a “related party,” thereby avoiding necessary approvals from shareholders and audit panels.
This fresh round of searches adds to ongoing investigations into the Anil Ambani group, which has been under regulatory and enforcement scrutiny over alleged loan defaults and fund diversion.
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https://www.freepressjournal.in/mumbai/ed-conducts-searches-at-anil-ambani-linked-reliance-infrastructure-premises-in-fema-probe