Tina Ambani, wife of Reliance ADA Group Chairman Anil Ambani, appeared before the Enforcement Directorate (ED) on Tuesday with an investigation into the alleged infringement of the Foreign Exchange Management Act (FEMA). The latest development follows Anil Ambani's visit to the ED office, where he furnished his statement regarding the ongoing probe.
Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the federal agency again later this week for completion of the exercise.The investigation against the couple pertains to the possession of certain alleged undisclosed assets abroad and linked movement of funds, the sources said.Anil Ambani’s alleged links to some offshore companies based in Jersey, British Virgin Islands and Cyprus are under the probe scanner of the ED.
He had been questioned by the agency in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others.In August last year, the income-tax department issued a notice to Anil Ambani under the anti-black money law for allegedly evading Rs 420 crore in taxes on undisclosed funds of more than Rs 814 crore held in two Swiss bank accounts.