Tina Ambani, the wife of Anil Ambani, Chairman of Reliance ADA Group, was summoned by the Enforcement Directorate (ED) in Mumbai on Tuesday, July 4th, to provide her statement and answer questions regarding an investigation into alleged violations of foreign exchange regulations.
This information comes from official sources familiar with the matter. Anil Ambani had already visited the federal agency's office in the Ballard Estate area on Monday, July 3rd, to give his statement in a case registered under various sections of the Foreign Exchange Management Act 1999 (FEMA).
He is expected to return to the ED later in the week to complete the process. Anil Ambani, 64 years old, arrived at the ED's office in south Mumbai around 10 am and left at 6 pm.
The investigation centers around allegations of undisclosed assets held abroad and the movement of funds by the Ambani couple, according to the aforementioned sources.
The ED is specifically examining Anil Ambani's purported connections to offshore companies located in Jersey, the British Virgin Islands, and Cyprus.
This is not the first time Anil Ambani has faced scrutiny from the ED. In 2020, he was questioned by the agency in a money laundering case involving Yes Bank promoter Rana Kapoor and others.
Furthermore, the income-tax agency issued a warning to Anil Ambani in August of that year under the anti-black money law.
According to the notification, he evaded taxes of 420 crores on concealed funds totalling 814 crores stored in two Swiss bank accounts.
However, in March, the Bombay High Court granted an interim stay on the income-tax show-cause notice and penalty demand.
The recent appearances of both Tina and Anil Ambani before the ED indicate the agency's ongoing efforts to investigate the allegations surrounding their offshore assets and fund movements.
As the investigation progresses, more information may emerge regarding the nature and extent of their involvement.