Anil Ambani’s Wife Tina joins probe in Foreign Exchange violation case

Mangalore Today News Network

New Delhi, July 04, 2023: Industrialist Anil Ambani’s wife Tina Ambani today joined the probe in an alleged case of foreign exchange violations.

Veteran actor Tina Ambani appeared before the Enforcement Directorate (ED) officials today - a day after Anil Ambani was questioned by the probe agency.

 

Sources say this is a fresh case connected to investments in Mr 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).

Anil Ambani, 64, had earlier appeared before the Enforcement Directorate 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 ₹ 420 crore in taxes on undisclosed funds of more than ₹ 814 crore held in two Swiss bank accounts.

The Bombay High Court in September gave relief to Mr Ambani, asking the Income Tax 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.