ED questions Anil Ambani in contemporary FEMA case linked to overseas belongings

By PTI

MUMBAI: Reliance ADA Group Chairman Anil Ambani on Monday appeared earlier than the Enforcement Directorate (ED) right here and recorded his assertion in reference to an investigation linked to the alleged contravention of the overseas change legislation, official sources mentioned.

The industrialist and his spouse Tina Ambani have been summoned once more for the same spherical of questioning later this week.

Ambani, 64, deposed on the workplace of the federal company in south Mumbai, the place he arrived at round 10 am and left at 6 pm.

Ambani’s assertion was recorded as a part of a contemporary case filed below varied sections of the Foreign Exchange Management Act (FEMA), the sources mentioned.

The investigation in opposition to the couple pertains to the possession of sure alleged undisclosed belongings overseas and linked motion of funds, they mentioned with out elaborating.

Anil Ambani had appeared earlier than the ED in 2020 in a cash laundering case in opposition to Yes Bank promoter Rana Kapoor and others.

In August final yr, the income-tax division issued a discover to Ambani below the anti-black cash legislation for allegedly evading Rs 420 crore in taxes on undisclosed funds of greater than Rs 814 crore held in two Swiss financial institution accounts.

The Bombay High Court, in March, ordered an interim keep on this I-T show-cause discover and penalty demand.

MUMBAI: Reliance ADA Group Chairman Anil Ambani on Monday appeared earlier than the Enforcement Directorate (ED) right here and recorded his assertion in reference to an investigation linked to the alleged contravention of the overseas change legislation, official sources mentioned.

The industrialist and his spouse Tina Ambani have been summoned once more for the same spherical of questioning later this week.

Ambani, 64, deposed on the workplace of the federal company in south Mumbai, the place he arrived at round 10 am and left at 6 pm.googletag.cmd.push(operate() googletag.show(‘div-gpt-ad-8052921-2’); );

Ambani’s assertion was recorded as a part of a contemporary case filed below varied sections of the Foreign Exchange Management Act (FEMA), the sources mentioned.

The investigation in opposition to the couple pertains to the possession of sure alleged undisclosed belongings overseas and linked motion of funds, they mentioned with out elaborating.

Anil Ambani had appeared earlier than the ED in 2020 in a cash laundering case in opposition to Yes Bank promoter Rana Kapoor and others.

In August final yr, the income-tax division issued a discover to Ambani below the anti-black cash legislation for allegedly evading Rs 420 crore in taxes on undisclosed funds of greater than Rs 814 crore held in two Swiss financial institution accounts.

The Bombay High Court, in March, ordered an interim keep on this I-T show-cause discover and penalty demand.