Reliance Infrastructure under ED lens: 13 bank accounts seized in highway funds probe

According to Reuters reports, the ED’s probe found irregular fund flows from NHAI projects into SPVs controlled by the company, raising concerns about diversion of public money. Reliance Infrastructure, part of the Anil Ambani-led Reliance Group, has been a major player in roads, power, and metro projects. The seizure of accounts is expected to impact liquidity until the matter is resolved. Analysts note that such enforcement actions highlight the regulator’s increasing vigilance over large infrastructure contracts, especially where public funds are involved. The company has yet to issue a detailed response, but legal proceedings are likely to follow.  

Notable updates  
• ED seizes 13 bank accounts of Reliance Infrastructure  
• Probe revealed siphoning of public funds via SPVs from NHAI highway projects  
• Reliance Infrastructure is a key player in roads, metro, and power projects  
• Action may affect liquidity and operations pending legal resolution  
• Reflects heightened regulatory scrutiny of infrastructure financing in India  

Major takeaway  
The ED’s seizure of Reliance Infrastructure’s accounts signals a strong regulatory stance on safeguarding public funds in highway projects, with potential implications for corporate governance and investor confidence.  

Sources: Reuters, Economic Times, Business Standard