Anil Ambani: The Enforcement Directorate (ED) has frozen Rs 77.86 crore kept in the bank accounts of Anil Ambani group company Reliance Infrastructure on charges of FEMA violations.

Reliance Infrastructure said in its regulatory filing on BSE, “The company has today received an order from ED, under which Rs 77.86 crore held in the bank accounts of the company has been frozen in case of alleged violations under FEMA.” FEMA (Foreign Exchange Management Act) are laws related to foreign exchange.

ED has sent summons twice

Earlier, ED has sent summons to Reliance ADAG promoter Anil Ambani twice in the FEMA case. However, Anil Ambani did not appear in the court and had demanded to present his views before the investigating agency virtually or through recorded video, which was rejected. Actions taken under FEMA are civil in nature, unlike criminal proceedings under the Anti-Money Laundering Act. This investigation of ED is related to Jaipur-Ringas Highway Project.

What is ED’s allegation?

ED alleges that Reliance Infrastructure illegally sent Rs 100 crore received from the National Highways Authority of India (NHAI) for the construction of JR Toll Road (Jaipur-Ringas Highway) to the United Arab Emirates (UAE) through the hawala route.

However, while giving clarification on this allegation made by ED, Anil Ambani’s spokesperson has earlier said that the FEMA case is 15 years old and dates back to 2010. This includes the case of contracts awarded for road construction. The statement said that Reliance Infrastructure had won an EPC contract that year to build the JR Toll Road (Jaipur-Ringas Highway). This was a domestic project, with no foreign exchange component involved. The highway work has been completed and from 2021 it is under the National Highway Authority of India.

Action against son Jai Anmol also

Here, along with Anil Ambani, the problems of his son Jai Anmol are also increasing. CBI has registered a case against him for defrauding Union Bank of India of Rs 228 crore. According to PTI report, in this connection, CBI also searched Jai Anmol’s house in Sea Wind, Cuffe Parade. This case is related to Reliance Home Finance Limited and the loan default related to it, in which earlier action has also been taken against Anil Ambani.

Actually, Reliance Home Finance Limited had taken a corporate loan of Rs 450 crore from Mumbai SCF branch of Union Bank. The bank claims that this loan taken for business was diverted elsewhere, due to which the bank has suffered a loss of Rs 228.06 crore.

movement in shares

The impact of this news was visible on the shares of Anil Ambani Group (ADAG) companies on Wednesday, December 10, which fell by 5 percent. On Wednesday, the share price of Reliance Power fell by more than 4 percent to the day’s lowest level of Rs 34.18. Meanwhile, Reliance Infra stock also touched almost 5 per cent lower price band at Rs 132.90 — which is also its 52-week low. Shares may be in action today too.

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The Enforcement Directorate (ED) team raided the violation of the Foreign Exchange Management Act (FEMA) in Bangalore’s house in Bangalore. This person named Satish claimed that he bought the world’s most expensive dog for 50 crores.

In this case, the ED is investigating that if he paid Rs 50 crore in lieu of buying a dog, then how was it done. When the details of Satish’s account were investigated, it was found that there was no transaction from the account. In such a situation, the ED suspects whether the hawala route was used for this.

The story turns out to be something else after sitting in front of Satish, sitting in front of Satish
When the ED team raided their residence in Bangalore to investigate, it was found that Satish was trying to mislead the investigation team. When the ED team questioned Satish in front of him, the story came out. Satish’s claims proved to be false in the investigation. The investigation of ED is going on regarding this matter.

Satish claimed that this dog was brought up in America
Talking to The Sun about his dog, Satish said that it is a very rare breed of dogs which looks exactly like wolf. This breed dog has been sold for the first time. Satish had told that the dog was brought up in America and it is extraordinary. I spent 50 crores on buying this puppy, because I am fond of dogs. I want to follow such unique dogs and bring it to India.

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