FEMA case: Tina Ambani appears before Enforcement Directorate

Tina Ambani appeared before the Enforcement Directorate in connection with a FEMA case at the probe agency's office in south Mumbai.

Mumbai (Maharashtra): Tina Ambani, wife of industrialist Anil Ambani, on Tuesday, appeared before the Enforcement Directorate (ED) for questioning and recording her statement at the ED office in south Mumbai, in connection with an investigation linked to the alleged contravention of the foreign exchange law.

On Monday, Reliance ADA Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) here and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law. Ambani, 64, deposed at the office of the federal agency in south Mumbai. According to ED sources, the investigation against the Ambani couple pertains to the possession of certain alleged undisclosed assets abroad and linked movement of funds.

Anil Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said. The industrialist had 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 issued a notice to 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 March, ordered an interim stay on this I-T show-cause notice and penalty demand.