Tina Ambani, Reliance ADA Group Chairman Anil Ambani’s wife appeared before the Enforcement Directorate (ED) on Tuesday, to give her statement regarding an investigation related to the alleged violation of foreign exchange regulations, as per official sources.
Earlier, on Monday Anil Ambani appeared before the ED to record his statement in a case registered under multiple sections of the Foreign Exchange Management Act 1999 (FEMA). The embattled business tycoon is likely to appear before the central agency again later this week, said a PTI report citing official sources.
The proceedings against the couple pertain to the possession of certain alleged undisclosed assets abroad and linked movement of funds, the sources said. The ED is reportedly also looking into Anil Ambani's purported connections to offshore companies in Jersey, the British Virgin Islands, and Cyprus.
Earlier, in 2020, the business tycoon had been questioned by the agency in a money laundering case which involved Yes Bank promoter Rana Kapoor and others. In August of last year, the income-tax department sent a notice to Anil Ambani under the anti-black money law, with allegations that he had evaded taxes amounting to Rs 420 crore on undisclosed funds exceeding Rs 814 crore held in two Swiss bank accounts.
Later, in March, the Bombay High Court ordered an interim stay on the income-tax show-cause notice and penalty demand.
Details of the case in which Ambani has appeared are yet to be ascertained.
Today, the share price of Reliance Industries Ltd. (RIL) was down almost 1% at Rs 2,590.40 per share despite positive trading on D-Street.