- India
- International
A DAY after industrialist Anil Ambani appeared before the Enforcement Directorate (ED), his wife Tina Ambani on Tuesday appeared before the agency in connection with an alleged case of foreign exchange violations.
Sources said that this was a fresh case connected to investments in Ambani’s companies and also undisclosed assets in foreign jurisdictions, filed under the Foreign Exchange Management Act (FEMA), 1999
Anil Ambani is the chairman of Reliance Anil Dhirubhai Ambani Group (ADAG).
He had earlier appeared before the ED in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others.
In August last year, the Income Tax Department had 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.
The Bombay High Court in September gave relief to Ambani, asking the I-T department not to take any coercive action against him.
The income tax department had charged Anil Ambani with “willful evasion” saying he “intentionally” did not disclose his foreign bank account details to authorities.