Anil Ambani appears before ED in fresh case registered under Foreign Exchange Management Act
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Mumbai Reliance ADA Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) here on Monday and recorded his statement in connection with its probe into alleged violations of the Foreign Exchange Management Act (FEMA). Official sources gave this information.
Mumbai Reliance ADA Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) here on Monday and recorded his statement in connection with its probe into alleged violations of the Foreign Exchange Management Act (FEMA). Official sources gave this information.
Sources said Ambani (64) recorded his statement at the federal agency’s office in South Mumbai. Ambani’s statement has been recorded in a fresh case registered under various sections of FEMA, sources said. Anil Ambani 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 had issued a notice to Ambani under the anti-black money law for tax evasion of Rs 420 crore on undisclosed funds of over Rs 814 crore kept in two Swiss bank accounts. In March, the Bombay High Court had ordered an interim stay on the Income Tax Department’s show cause notice.
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