The Enforcement Directorate on Wednesday said it has seized more than a dozen bank accounts of Anil Ambani Group company Reliance Infrastructure as part of an ongoing FEMA investigation, alleging diversion of public funds meant for highway projects.
According to the agency, 13 bank accounts containing Rs 54.82 crore belonging to Reliance Infrastructure Ltd have been seized for what it termed a "contravention" of the Foreign Exchange Management Act.
The ED alleged that Reliance Infrastructure, through its special purpose vehicles, siphoned public funds from highway construction projects awarded by the National Highways Authority of India and illegally transferred the money abroad.
The agency said the funds were "diverted" under the guise of "sham" sub-contracting arrangements to "shell" companies located in Mumbai.
The ED had summoned Anil Ambani for questioning in this case last month but he did not depose.
There was no immediate comment from Reliance Infrastructure on the development.
