ED conducts raids in Delhi and Goa against Hawala networks, summons Anil Ambani

The Enforcement Directorate (ED) on Friday carried out simultaneous searches at multiple locations in Delhi and Goa targeting hawala operators allegedly involved in illegal foreign remittances and unreported overseas investments.

The raids, which began early morning in coordination with local police, are being conducted under the Foreign Exchange Management Act (FEMA) as part of an investigation into undisclosed high-value properties held by Indian nationals in Dubai. Officials said the operation aims to trace funds allegedly routed abroad via hawala channels and used to purchase assets without proper disclosure.

In a significant development, the ED has summoned industrialist Anil Ambani to appear at its Delhi headquarters on November 14 in connection with a FEMA investigation. The agency is examining alleged illegal outward remittances, undisclosed foreign assets, and offshore companies linked to the Reliance Anil Ambani Group (RAAG).

Specifically, the probe involves Reliance Infrastructure Limited (R-Infra), where officials claim that Rs 40 crore from a Jaipur-Reengus highway project was allegedly transferred abroad through shell companies in Surat to Dubai. The investigation has uncovered a larger international hawala network exceeding Rs 600 crore. The ED has also conducted searches at six R-Infra offices in Mumbai and Indore for “illegal remittances abroad.”

This is part of a series of ongoing high-profile investigations in India targeting individuals and corporate groups for alleged FEMA violations, unreported foreign assets, and hawala-based fund transfers, including other cases involving substantial undisclosed overseas investments.

The ED’s operation underscores its continued efforts to curb illicit remittances and enforce compliance with foreign exchange laws, sending a clear signal to corporates and individuals holding or transferring unreported assets abroad .