Anil Ambani Appears Before ED In Alleged Foreign Exchange Violation Case: Report

Industrialist Anil Ambani on Monday appeared before the Enforcement Directorate in connection with alleged foreign exchange rules violation case, PTI reported.

The Reliance ADA Group chairperson appeared before the central agency in Mumbai’s Ballard Estate area to record his statement in the case registered under various sections of the Foreign Exchange Management Act (FEMA).

The industrialist had 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 issued a notice to Ambani under the anti-black money law for allegedly evading ₹420 crore in taxes on undisclosed funds of more than ₹814 crore held in two Swiss bank accounts.

The Bombay High Court, in March, ordered an interim stay on this I-T show-cause notice and penalty demand.