RPower, RInfra shares in focus as ED rejects Anil Ambani's request for virtual appearance
The ED has asked Ambani to appear before the central probe agency today. According to sources, the agency declined his request to record his statement virtually and has insisted on a physical appearance.
- Nov 17, 2025,
- Updated Nov 17, 2025 8:49 AM IST
Shares of Reliance Power Ltd (RPower) and Reliance Infrastructure Ltd (RInfra) are expected to be in focus on Monday after the Enforcement Directorate (ED) issued fresh summons to Reliance Group Chairman Anil Ambani in connection with a case under the Foreign Exchange Management Act (FEMA).
The ED has asked Ambani to appear before the central probe agency today. According to sources, the agency declined his request to record his statement virtually and has insisted on a physical appearance.
A spokesperson for Ambani said he has written to the ED assuring "full cooperation" with the investigation. The case pertains to the Jaipur–Reengus highway project, for which RInfra received an EPC contract in 2010.
The agency earlier attached assets worth Rs 7,500 crore belonging to Ambani and his companies under the anti-money laundering law. During searches at RInfra, the ED claimed to have found indications of Rs 40 crore being siphoned off from the highway project.
Officials allege the money was routed through Surat-based shell companies to Dubai, forming part of a larger hawala network estimated at more than Rs 600 crore.
The ED has recorded statements from several individuals, including alleged hawala operators, which led to the latest summons.
Ambani's spokesperson stated that the FEMA-related issues date back to 2010 and involve matters connected to a road contractor, adding that the JR Toll Road project was domestic in nature with no foreign exchange component and has been under the National Highways Authority of India's (NHAI's) management since 2021.
The spokesperson also clarified that Ambani is not a board member of RPower or RInfra and does not take part in day-to-day operations.
Shares of Reliance Power Ltd (RPower) and Reliance Infrastructure Ltd (RInfra) are expected to be in focus on Monday after the Enforcement Directorate (ED) issued fresh summons to Reliance Group Chairman Anil Ambani in connection with a case under the Foreign Exchange Management Act (FEMA).
The ED has asked Ambani to appear before the central probe agency today. According to sources, the agency declined his request to record his statement virtually and has insisted on a physical appearance.
A spokesperson for Ambani said he has written to the ED assuring "full cooperation" with the investigation. The case pertains to the Jaipur–Reengus highway project, for which RInfra received an EPC contract in 2010.
The agency earlier attached assets worth Rs 7,500 crore belonging to Ambani and his companies under the anti-money laundering law. During searches at RInfra, the ED claimed to have found indications of Rs 40 crore being siphoned off from the highway project.
Officials allege the money was routed through Surat-based shell companies to Dubai, forming part of a larger hawala network estimated at more than Rs 600 crore.
The ED has recorded statements from several individuals, including alleged hawala operators, which led to the latest summons.
Ambani's spokesperson stated that the FEMA-related issues date back to 2010 and involve matters connected to a road contractor, adding that the JR Toll Road project was domestic in nature with no foreign exchange component and has been under the National Highways Authority of India's (NHAI's) management since 2021.
The spokesperson also clarified that Ambani is not a board member of RPower or RInfra and does not take part in day-to-day operations.