MUMBAI: Tina Ambani, the wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) officials in Mumbai for questioning in about their alleged overseas assets and investments in tax havens.
On Monday, Anil Ambani had appeared before the ED and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law. As part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), Anil Ambani's statement was officially recorded on Monday, according to sources familiar with the matter.
The Enforcement Directorate (ED) is presently investigating potential offshore investments and assets linked to Anil Ambani and his wife Tina for potential violations of the Foreign Exchange Management Act (FEMA). The investigators intend to present the couple with the details of their inquiries into several offshore entities.
Additionally, some companies within the ADAG group are currently undergoing insolvency proceedings, while the Income Tax (I-T) department is conducting a separate investigation into Anil Ambani's offshore companies and alleged tax evasion under the Black Money Act. It's worth noting that a prosecution complaint filed under the Black Money Act can serve as a valid basis for initiating an investigation under the Prevention of Money Laundering Act (PMLA).
