FEMA case: Reliance ADA Group Chairman Anil Ambani on Monday appeared before Enforcement Directorate (ED) in Mumbai, in connection with a FEMA case. According to official sources, the industrialist recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law.
Without elaborating, the sources informed that a fresh case was filed under various sections of the Foreign Exchange Management Act (FEMA) and Anil Ambani 's statement was recorded as part of it. After appearing before the ED and recording statements, Ambani came out of the office at around 6 pm.
Earlier in 2020, Ambani had appeared before the ED in a money laundering case against Yes Bank promoter Rana Kapoor and others. In August 2022, under the anti-black money law, the income-tax department issued a notice to Anil Ambani for allegedly evading Rs 420 crore in taxes on undisclosed funds of more than Rs 814 crore held in two Swiss bank accounts. However, in March, the Bombay High Court ordered an interim stay on this I-T show-cause notice and penalty demand.
