The Income Tax Department served notices to Mukesh Ambani's Wife Nita Ambani and their Three Children over undisclosed foreign assets. Media reports confirm that Ambani Family received notices on March 28th, 2019 under the 2015 Black Money Act.
However, Reliance Industries denied receiving any such notices from the I-T Department. A statement has been released in this regard by the company.
According to the media report, The notices were related to the probe which began in 2011 over 700 Indians holdings accounts in HSBC Bank in Geneva. Swiss Leaks in February 2015 pushed the count of Indians with undisclosed foreign assets to 1,195.
As much as Rs 4,200 crore were in the 14 Accounts of HSBC Bank in Geneva. These Accounts belong to the offshore companies connected to the Reliance Group. IT Notices issued on March 28th confirm that Mukesh Ambani's Family Members are the beneficiaries of one of these accounts.