Anil Ambani's Wife Tina Ambani Appears Before ED In Foreign Exchange Violation Case

On Monday, Anil Ambani appeared before the ED in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law

The probe against Anil and Tina Ambani pertains to the possession of certain alleged undisclosed assets abroad and linked movement of funds, according to the report.

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Tina Ambani, wife of Reliance ADA Group Chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai in connection with an investigation into the alleged contravention of the foreign exchange law, as reported by news agency ANI. The allegations are reportedly related to the Pandora Papers case.

The wife of industrialist Anil Ambani, Tina Ambani appeared before ED at their office in Mumbai today. Yesterday, the statement of Anil Ambani was recorded in connection with a FEMA case.

(Pic: Tina Ambani's Twitter account) pic.twitter.com/1mr1E8isWl

— ANI (@ANI) July 4, 2023

On Monday, Anil Ambani appeared before the ED in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. 

Ambani, 64, deposed at the office of the federal agency in south Mumbai, where he arrived at around 10 am and left at 6 pm. His statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said. Anil Ambani's alleged links to some offshore companies based in Jersey, British Virgin Islands and Cyprus are under the probe scanner of the ED.

The probe against the couple pertains to the possession of certain alleged undisclosed assets abroad and linked movement of funds, they said without elaborating.

Anil Ambani 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.