Overview
- Investigators say R‑Infra routed project money via SPVs through sham sub‑contracting to shell companies in Mumbai.
- The ED alleges the funds were layered and remitted to the UAE as payments for diamonds with no goods or supporting documents, with beneficiary accounts also in Hong Kong.
- According to the agency, the shell network is linked to illegal international hawala transactions exceeding ₹600 crore.
- The purported diversion allegedly pushed project SPVs into distress, turning loans into NPAs and inflicting losses on lenders.
- Anil Ambani was summoned twice in the case, and R‑Infra disclosed a separate ED lien of ₹77.86 crore in a regulatory filing as the investigation continues.