Tina Ambani, Wife of Anil Ambani, Appears for Investigation in Foreign Exchange Violation Case

New Delhi: Tina Ambani, the wife of renowned industrialist Anil Ambani, has now joined the ongoing investigation into an alleged case of foreign exchange violations. Following her husband’s questioning by the Enforcement Directorate (ED), veteran actress Tina Ambani appeared before ED officials today.

According to sources, this new case pertains to investments made in Mr. Ambani’s companies and undisclosed assets held in foreign jurisdictions. The case has been filed under the provisions of the Foreign Exchange Management Act (FEMA) of 1999.

Anil Ambani, the chairman of Reliance Anil Dhirubhai Ambani Group (ADAG), had previously faced scrutiny from the Enforcement Directorate in 2020 in connection with a money laundering case involving Yes Bank promoter Rana Kapoor and others. The Income Tax Department served Anil Ambani with a formal notice pursuant to the anti black money legislation. This notice suggests that Ambani evaded taxes totaling ₹420 crore ($56 million) on undisclosed funds exceeding ₹814 crore ($109 million) which were kept in two Swiss bank accounts.

In a noteworthy development, the Bombay High Court granted relief to Mr. Ambani in September, instructing the Income Tax Department not to take any coercive action against him. The income tax department had accused Anil Ambani of “willful evasion,” claiming that he intentionally withheld details of his foreign bank accounts from the authorities.