ED carries search at Reliance Infra offices

New Delhi: The Enforcement Directorate (ED) on Tuesday conducted searches in Maharashtra and Madhya Pradesh as part of a FEMA investigation being conducted against Anil Ambani Group company Reliance Infrastructure, official sources said.

At least six premises in Mumbai and Mhow in Indore were raided, they said. The searches are part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of making some illegal remittances abroad, they said. The ED has already been investigating alleged financial irregularities and collective loan “diversion” pegged at more than Rs 17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure (R Infra), under the criminal provisions of the anti-money laundering law (Prevention of Money Laundering Act).