After ₹3,083-cr attachment, Anil Ambani says ED summons are for FEMA inquiry on Jaipur-Reengus project, not PMLA

After the Enforcement Directorate (ED) provisionally attached over 42 properties of the Reliance Anil Ambani Group valued at over ₹3,083 crore, last month, in the case of fraud, Anil Ambani issued a statement, saying ED summons to Anil D. Ambani relate to a FEMA (Foreign Exchange Management Act) inquiry and not to any matter under the PMLA (Prevention of Money Laundering Act), contrary to false reports in the media. 

A spokesperson for Ambani said the matter pertains to a FEMA case relating to the Jaipur-Reengus highway project, as cited in the ED’s official release on November 3, 2025.  

“ED summons to Anil D. Ambani relate to a FEMA inquiry and not to any matter under the PMLA, contrary to false reports in the media. As per the ED’s official media release dated 3rd November 2025, the matter pertains to a FEMA case relating to the Jaipur–Reengus highway project. The matter is 15 years old, dates to 2010, and concerns issues associated with a road contractor,” the spokesperson said. 

In 2010, Reliance Infrastructure was awarded an EPC contract for the construction of the JR Toll Road (the Jaipur–Ringus highway). It was a purely domestic contract, with no foreign exchange component involved. The spokesperson said the JR Toll Road has been fully completed and, from 2021 onwards, has been with the National Highways Authority of India (NHAI) for over past four years. “Anil D. Ambani is not a member of the Board of Reliance Infrastructure. He served the company for about 15 years, from April 2007 to March 2022, only as a non-executive director, and was never involved in the day-to-day management of the company,” the spokesperson added.

According to the ED release, 30 properties of Reliance Infrastructure, five properties of Adhar Property Consultancy Private Ltd, four properties of Mohanbir Hi-tech Build Private Limited, one property each of Gamesa Investment Management Private Limited, Vihaan43 Realty Private Limited (earlier known as M/s Kunjbihari Developers Private Limited), and a property of Campion Properties were attached.

Assets include the Pali Hill residence, Reliance Centre at Maharaja Ranjeet Singh Marg in New Delhi, and other properties in Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram and East Godavari. Reliance Infra, in its filing, said there is no impact on the business operations, shareholders, employees or any other stakeholders of Reliance Infrastructure. Anil D. Ambani has not been on the Board of Reliance Infrastructure Limited for more than 3.5 years," the company told exchanges following the ED statement.

Allegations against Anil Ambani-led Reliance Group

As per the allegations, Anil Ambani-led Reliance Group has been alleged to have raised public funds—over ₹17,000 crore—through RCFL and RHFL, which were funnelled and diverted through a complex web of transactions involving entities linked to the Anil Ambani Group, which is a contravention of Sebi’s conflict-of-interest rules.

According to a PTI report, between 2017 and 2019, Yes Bank allocated ₹2,965 crore to RHFL and ₹2,045 crore to RCFL. Citing ED, the report added that by December 2019, the said funds of Yes Bank had become “non-performing” investments, with outstanding amounts of ₹1,353.50 crore for RHFL and ₹1,984 crore for RCFL.

In August 2025, Anil Ambani was questioned by the ED after the agency conducted raids on 35 premises linked to 50 companies and 25 individuals, including executives of the Reliance Anil Ambani Group in Mumbai on July 24. The probe was conducted on July 24 after the CBI lodged an FIR. The CBI filed a chargesheet against Anil Ambani and others in September, citing the transactions between RCFL, RHFL, and Yes Bank.

Reliance Group has, meanwhile, announced its first-ever grant of Employee Stock Options (ESOPs) across its flagship companies – Reliance Infrastructure and Reliance Power. Under this, around 2,500 employees across both companies will benefit. Most employees will be entitled to exercise their options at a face value of ₹10 per share.