Tina Ambani, spouse of Reliance ADA Group Chairman Anil Ambani, appeared before the Enforcement Directorate (ED) on Tuesday with an investigation into the alleged infringement of the Foreign Exchange Management Act (FEMA). The newest growth follows Anil Ambani’s go to to the ED workplace, the place he furnished his assertion concerning the continued probe.
As per sources, Anil Ambani’s assertion was saved for an additional scenario enrolled beneath completely different areas of FEMA. The examination revolves across the related possession with undisclosed sources overseas and the event of related property by the industrialist and his spouse.
In 2020, the ED just lately questioned Anil Ambani in a tax evasion case, together with Yes Bank promoter Rana Kapoor and others. Besides, Ambani bought a show-cause discover from the income-tax division in August final yr, claiming tax avoidance of Rs 420 crore on undisclosed property, as much as over Rs 814 crore held in two Swiss financial institution accounts.
Nonetheless, the Bombay High Court gave an interim keep on the income-tax discover and punishment curiosity in March, offering aid to Anil Ambani.
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