ED seizes Rs.54.82crin R-Infra accounts
New Delhi, Dec. 11 -- The Enforcement Directorate (ED) has seized Rs.54.82 crore lying in multiple accounts of Reliance Infrastructure Limited (R-Infra) in a probe under the Foreign Exchange Management Act (FEMA), the agency said on Wednesday.
The financial crimes probe agency has been investigating Reliance Infrastructure, a Reliance Group company, on the charges of allegedly making illegal remittances abroad. In September this year, it carried out searches at half a dozen locations in the probe.
The agency's special task force (STF) in Delhi, which is investigating this case, seized 13 bank accounts with a balance of Rs.54.82 crore for contravening section 4 of FEMA, which governs foreign funding, it added.
"Investigation revealed that Re...
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