New Delhi- The ED on Wednesday said it has seized over a dozen bank accounts, holding about Rs 55 crore worth deposits, of Anil Ambani Group company Reliance Infrastructure as part of a FEMA investigation.

It alleged that Reliance Infrastructure Ltd (R-Infra), through its special purpose vehicles (SPVs), siphoned public funds from highway construction projects awarded by the NHAI and sent them abroad illegally.

There was no immediate comment from R-Infra on the development.

The ED has seized 13 bank accounts having a balance of Rs 54.82 crore of Reliance Infrastructure Ltd. for “contravention” of the the Foreign Exchange Management Act (FEMA), the federal probe agency said in a statement .

Funds were “diverted” under the guise of “sham” sub-contracting arrangements to “shell” companie

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