By Tuhin Patel
Copyright republicworld
Mumbai, September 30, 2025 – Anil Ambani-led Reliance Infrastructure Limited issued a statement on Tuesday addressing media reports about a survey conducted by the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA) at its premises. The company clarified that the survey pertains to a 15-year-old matter involving the JR Toll Road (Jaipur–Ringus Highway) project.In a filing with the Bombay Stock Exchange, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), Reliance Infrastructure explained that in 2010, it awarded an engineering, procurement, and construction (EPC) contract for the JR Toll Road to Prakash Asphaltings & Toll Highways. The company emphasized that this was a domestic contract with no foreign exchange transactions involved. The project was completed, and the toll road has been under the management of the National Highways Authority of India (NHAI) for the past four years. Reliance Infrastructure stated it has no ongoing relationship with the contractor.“The Company and its officials are fully cooperating with the authorities, as always,” the statement read. “This action has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the Company.”The clarification follows reports stating that the ED raided several premises linked to Reliance Infrastructure. According to a report by news agency IANS, the ED on Tuesday carried out searches at six premises in Indore and Mumbai in connection with a probe into alleged illegal remittances abroad by Reliance Infrastructure under the FEMA.Enforcement Directorate (ED) teams have conducted searches at the offices and residences of Indore-based Path India Group, a firm facing allegations of irregularities in toll road developments and other business activities.According to the report, a group of officials arrived in several vehicles at the company’s headquarters on 76 Mal Road in Mhow, as well as the homes of its key executives.These operations are believed to form part of a broader ED inquiry into the alleged bank loan frauds connected to Anil Ambani and his companies.Authorities suspect that multiple construction contracts were executed between Reliance Group entities and Path India Group, potentially facilitating the transfer of substantial funds.The latest development builds on prior enforcement actions against Ambani-associated firms. In August, the Central Bureau of Investigation (CBI) carried out searches at locations tied to Reliance Communications (RCOM) and its promoter Anil Ambani, probing an alleged Rs 2,000 crore fraud against the State Bank of India.The bank had previously labeled RCOM and Ambani as “fraud” accounts, citing loan diversions through an intricate network of inter-company dealings.It also reported that earlier this month, Anil Ambani underwent several hours of questioning by the ED in connection with a separate investigation into an alleged Rs 17,000 crore loan fraud case.The agency is anticipated to call him in again, this time requiring relevant documentation.
