Tina Ambani, the wife of Reliance ADA Group Chairman Anil Ambani, came before the Enforcement Directorate (ED) here on Tuesday for questioning and recording her testimony in connection with a probe into alleged violations of foreign currency regulations, according to official sources.
Anil Ambani recorded his statement in the case on Monday in accordance with parts of the Foreign Exchange Management Act (FEMA), and he is scheduled to appear before the federal agency again later this week to complete the process.
According to the sources, the inquiry against the pair is related to the possession of certain alleged undeclared assets overseas and the related movement of funds. The ED is looking into Anil Ambani’s suspected connections to offshore firms situated in Jersey, the British Virgin Islands, and Cyprus.
In 2020, he was questioned by the FBI in connection with a money laundering case involving Yes Bank promoter Rana Kapoor and others. The income-tax department sent a notice to Anil Ambani in August last year under the anti-black money statute for allegedly avoiding Rs 420 crore in taxes on unreported funds totaling more than Rs 814 crore stored in two Swiss bank accounts. In March, the Bombay High Court granted an interim stay on the I-T show-cause notice and penalty demand.
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