Mumbai: Tina Ambani, the wife of Anil Ambani, Chairman of Reliance ADA Group, appeared before the Enforcement Directorate (ED) in Mumbai on Tuesday for questioning and to provide her statement regarding an investigation related to the alleged violation of foreign exchange regulations, according to official sources.
Anil Ambani had already given his statement on Monday, 3 July, under sections of the Foreign Exchange Management Act 1999 (FEMA), and he is expected to appear before the ED again later in the week to complete the process.
The investigation revolves around the alleged possession of undisclosed assets abroad and the movement of funds by the couple, as per the sources.
The ED is looking into Anil Ambani’s purported connections to offshore companies situated in Jersey, the British Virgin Islands, and Cyprus.
Previously, in 2020, he had been questioned by the agency in a money laundering case involving Yes Bank promoter Rana Kapoor and others.
In August of last year, the income-tax department issued a notice to Anil Ambani under the anti-black money law, alleging that he had evaded taxes amounting to Rs 420 crore on undisclosed funds exceeding Rs 814 crore held in two Swiss bank accounts.
In March, the Bombay High Court granted an interim stay on the income-tax show-cause notice and penalty demand.
