FEMA News

Dabur loses over 1.5% after ED seizes assets worth Rs 21 crore from Pradip Burman

Dabur loses over 1.5% after ED seizes assets worth Rs 21 crore from Pradip Burman

The investigation conducted so far has also revealed that Burman had deposit USD 32,12,000 with HSBC, Zurich and holding the same in contravention of Section 4 of FEMA, 1999 and failed to repatriate the entire amount to India till date, ED further added.

HSBC black money list: ED seizes Rs20.87 crore assets of Dabur India director Pradip Burman

HSBC black money list: ED seizes Rs20.87 crore assets of Dabur India director Pradip Burman

“The investigation revealed that Burman has deposited $3.21 million with HSBC, Zurich and was holding the same in contravention of section-4 of the FEMA and failed to repatriate the entire amount to India till date,” ED said. PTI contributed to this story.

Black money crackdown: ED seizes assets worth Rs 21 cr of Dabur's Pradip Burman

Black money crackdown: ED seizes assets worth Rs 21 cr of Dabur's Pradip Burman

The Enforcement Directorate on Tuesday seized assets worth Rs 20.87 crore belonging to the director of Dabur India Limited under Foreign Exchange Management Act (FEMA) for holding assets abroad. The seizure order has been issued pursuant to an ...

Burman calls ED's seizure of assets 'unmerited, unlawful'

Burman calls ED's seizure of assets 'unmerited, unlawful'

New Delhi, May 23 (IANS) The Burman Family Office on Wednesday described the ED's action of seizing assets worth Rs 20.87 crore belonging to Dabur India Director Pradip Burman under the Foreign Exchange Management Act (FEMA) as "unmerited and ...

ED seizes Rs 21-cr assets of Dabur's Burman assets seized in black money case

ED seizes Rs 21-cr assets of Dabur's Burman assets seized in black money case

New Delhi : The Enforcement Department (ED) on Tuesday has seized assets worth Rs 20.87 crore of Dabur group director Pradip Burman in connection with its FEMA probe in the HSBC Bank black money list unearthed few years ago. The ED initiated the ...and more »

HSBC black money list: ED seizes Rs 20.87 crore assets of Dabur Group's former director Pradip Burman

HSBC black money list: ED seizes Rs 20.87 crore assets of Dabur Group's former director Pradip Burman

"The investigation revealed that Burman has deposited USD 32.12 lakh with HSBC, Zurich and was holding the same in contravention of section 4 of the FEMA and failed to repatriate the entire amount to India till date," the ED said. Burman was a Director ...

Bhushan Steel gets new team post takeover

Bhushan Steel gets new team post takeover

New Delhi: The Enforcement Directorate (ED) on Tuesday said it had seized assets worth Rs 20.87 crore of Dabur Group Director Pradip Burman in connection with its FEMA probe in the HSBC bank black money list unearthed a few years ago. The ED initiated ...and more »

Terror funding: ED notice for J&K businessman for flouting FEMA

Terror funding: ED notice for J&K businessman for flouting FEMA

"Further he could not provide satisfactory reasoning for source of funds collected overseas and subsequent remittances to India,"the agency stated. Earlier, NIA arrested Watali on August 17, 2017 at New Delhi for being an active channel to receive ...

NRI's salary income not taxable in India

NRI's salary income not taxable in India

Q. My son is an officer in Merchant Navy sailing in foreign waters on a foreign flagship company whose head office is in Singapore. He has his NRE account in India in a nationalised bank and getting his salary amount (remittance) in US dollars in this ...and more »

Redefining The Contours Of FDI

Redefining The Contours Of FDI

The New FEMA 20 introduces for the very first time a definition of 'foreign investment' and categorizes it into 'foreign direct investment' and 'foreign portfolio investment'. This categorization fundamentally changes the foreign exchange regime of ...