After Anil Ambani, his wife Tina Ambani also appeared before ED today.
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Anil Ambani is accused that around the year 2007, his companies had brought a lot of money through FDI. It is alleged that Ambani and his subsidiaries showed that they raised money through loans abroad and brought it to India through FDI. In the year 2015, this money was sent abroad and it was shown that the loan has been repaid. Sources say that this amount could be Rs 2,000 crore. ED is probing whether this money came to India in the form of loan or FDI. Further investigation will be done on the basis of this. Along with this, ED is also investigating whether Anil Ambani has money abroad? This is the money that was paid to foreign companies as loan repayment.
Accusations on Ambani
ED is probing 18 foreign companies. These include Batiste Unlimited which is directly or indirectly linked to Anil Ambani in Jersey, Virgin Islands and Cyprus. These companies are believed to have been set up between 2007 and 2008. It is alleged that these companies had taken loans from various banks. In 2020, ED questioned Anil Ambani for nine hours. The case was related to a loan of Rs 12,500 crore given by Yes Bank to his companies. This loan had become NPA. It is alleged that during the same period, the ADAG had given a loan of Rs 1,100 crore to companies linked to the family members of Rana Kapoor. The ED is probing whether it is a case of mutual benefit. The ADAG then said that Ambani has told the ED that Reliance Group’s Rana Kapoor and his family members have no exposure in any company.
In September 2022, the Bombay High Court gave relief to Anil Ambani in a case related to tax evasion of Rs 420 crore. Then the court had asked the Income Tax Department not to forcefully act against Anil Ambani. The Income Tax Department had on August 8, 2022 issued a notice to Anil Ambani for alleged evasion of Rs 420 crore in tax on undisclosed wealth of over Rs 814 crore allegedly kept in two Swiss bank accounts. The High Court had in September 2022 put an interim stay on the show cause notice pending hearing. Many companies of Anil Ambani have huge debt and they are going through insolvency proceedings. According to Forbes India’s report published in the year 2007, then Anil Ambani’s net worth was $ 45 billion billion and at that time he was the third largest rich man in the country. But today his net worth is zero.
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