New Delhi: The Directorate of Enforcement (ED) has filed a prosecution complaint under the Prevention of Money Laundering Act (PMLA), 2002, against Reliance Infrastructure Ltd (RIL), Sateesh Seth and others for allegedly diverting National Highways Authority of India (NHAI) funds to shell companies.
The complaint was filed by the ED at the Special Court (PMLA), Dwarka District Courts, New Delhi, on Saturday, under Section 3 and Section 3 read with Section 70, punishable under Section 4 of the PMLA, 2002, as per a release by the agency.
“ED initiated investigation on the basis of FIR No 172/2026 dated 11.02.2026 registered by EOW, Mumbai, concerning shell companies incorporated and operated using forged documents and bank accounts for routing funds and outward remittances under the cover of fictitious invoices and over-valued diamond imports,” the release stated.
“ED investigation revealed an organized scheme to divert public funds from four NHAI-awarded toll-road projects: Trichy-Karur (NH-67), Trichy-Dindigul (NH-45), Salem-Ulundurpet (NH-68) and Jaipur-Reengus (NH-11). The projects were financed through NHAI grants and loans from banks and financial institutions. Approximately Rs 187 crores were siphoned during September-October 2010 through sham, post-facto or back-dated arrangements for fictitious sub-contracting work,” it said.
The ED has further alleged that the money trail moved from RIL or its project-specific Special Purpose Vehicles/EPC contractors to construction contractors and thereafter to shell entities having no connection with road construction.
“Documents were subsequently created to portray the transfers as genuine project expenditure, while the funds were layered through shell entities and diamond traders,” the statement added.
It also said that the ED has provisionally attached assets valued at Rs 187 crore in this case on September 3, 2026, comprising immovable assets and equity shares of M/s Reliance Power Limited held by RIL and land held by M/s Ksheeraabd Constructions Private Limited.
Seth was arrested in this ECIR on June 12, 2026 and is in judicial custody.
Further investigation with respect to the role of other individuals is underway, the agency said.