Reliance Infrastructure Limited has been ordered to place a lien of Rs 77.86 crore on its bank accounts due to alleged violations of the Foreign Exchange Management Act (FEMA). This order confirms a provisional lien established in December 2025 when the Enforcement Directorate (ED) seized over Rs 55 crore from the company’s accounts during a hawala-linked investigation. The ED alleges that Reliance Infrastructure misappropriated public funds from highway construction projects awarded by the National Highways Authority of India (NHAI) and illegally transferred them to the UAE. In response, Reliance Infrastructure plans to appeal the lien order. Additionally, the company has reached out to the Securities and Exchange Board of India (SEBI) and other exchanges to review the Additional Surveillance Measure (ASM) framework that restricts trading of its shares to once a week within a ±5% price band. Reliance argues that these restrictions adversely affect its over 700,000 public shareholders and impede fair price discovery in the market, potentially harming shareholder value. The company seeks to balance market surveillance with investor protection and shareholder interests.