New Delhi: Industrialist Anil Ambani appeared before the Enforcement Directorate (ED) in Mumbai Monday in connection with a probe under the Foreign Exchange Management Act (FEMA).
He was questioned by the investigating agency for alleged foreign exchange violations.
Sources said he reached the ED office around 10 am and left after recording his statement.
This is a fresh case filed under various sections of FEMA, sources told news agency PTI without elaborating.
In March 2020, the ED had summoned Ambani in connection with its money-laundering probe against Yes Bank promoter Rana Kapoor.
The ED said Ambani’s group companies were among the big entities whose loans allegedly went bad after borrowing from the crisis-hit bank.
However, the group said its entire debt from Yes Bank was fully secured and was availed in the ordinary course of business. Ambani’s nine group companies were stated to have taken loans of about Rs 12,800 crore from the bank.
In September last year, the Bombay High Court had asked the income tax department not to take any “coercive action” against Reliance Group chairman in an alleged tax evasion of Rs 420 crore.
The court also stayed a prosecution notice issued by income tax authorities to Ambani for non-disclosure of the amount in two Swiss bank accounts.
The income tax department had charged Anil Ambani with “willful evasion” saying he “intentionally” did not disclose his foreign bank account details to authorities.
A show-cause notice in this connection was issued to him, reportedly in August, 2022.
Also read: Bombay HC gives Anil Ambani relief over tax evasion matter