Amitabh Bachchan and his family have been asked by the Enforcement Directorate to share details of their foreign exchange remittances over the past 13 years. Actor Ajay Devgn has also received a notice from the agency. Devgn has reportedly been asked to explain some of his cross-border remittances.
Amitabh Bachchan, wife Jaya, sonAbhishek, daughter-in-law Aishwarya and Devgn were served notices a little over a month ago under Section 37 of the Foreign Exchange Management Act ( Fema) which empowers ED to obtain preliminary information before starting an investigation.
Recommended
“Mr Bachchan and his family members have to disclose outflows since 2004 – the year when the Reserve Bank of India introduced the Liberalised Remittance Scheme (LRS). ED is probably examining the remittances under LRS and those separately done for business trips…All transactions have been through banking channels,” an industry person told Economic Times.
Earlier this week, ED issued a notice to actor Shah Rukh Khan asking him to explain the undervaluation of shares of his Kolkata Knightriders.