Anil Ambani, beleaguered chairman of Reliance Group, did not appear before the Enforcement Directorate (ED) on November 14 for questioning regarding an ongoing investigation under the Foreign Exchange Management Act (FEMA), instead requesting that he be allowed to appear “virtually”.
A statement issued by a spokesperson of the 66-year-old businessman said he has written to the federal probe agency to either permit him to join the proceedings virtually or grant a fresh date for physical appearance.
He has assured “full cooperation” in the probe, the spokesperson added.
Sources, including senior officials, however said that the ED is unlikely to accept Ambani’s request for a virtual appearance, citing the nature of the inquiry and procedural requirements under FEMA.
The agency may issue another date for him to appear in person, they added.
The summons pertain to an ongoing investigation in the Jaipur-Reengus Highway Project where the ED suspects that funds worth about ₹100 crore were sent abroad via the ‘hawala’ route denoting illegal movement of funds, mostly cash.
Also Read: ED summons industrialist Anil Ambani on November 14 in FEMA case
The federal probe agency has recorded the statements of various persons, including some alleged hawala dealers, following which they decided to summon Ambani, the sources added.
The businessman has already been questioned by the ED in a money laundering case linked to an alleged ₹17,000-crore-worth bank fraud against his group companies.
“The matter (FEMA case) is 15 years old, dates to 2010, and concerns issues associated with a road contractor,” the statement by the Reliance Group said, adding that Reliance Infrastructure Ltd. was awarded an EPC contract for the construction of the JR Toll Road (Jaipur-Ringus Highway) at the time.
“This was a purely domestic contract with no foreign exchange component involved whatsoever. 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,” the statement added.
Ambani is not a member of the Board of Reliance Infrastructure anymore, the company further explained.
“He served the company for about fifteen years, from April 2007 to March 2022, only as a non-executive director, and was never involved in day-to-day management of the company,” it said.
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