FEMA News

FEMA: ED summons Kashmiri separatist leader Geelani in FEMA ...

FEMA: ED summons Kashmiri separatist leader Geelani in FEMA ...

The Enforcement Directorate (ED) has summoned hardline Hurriyat Conference leader Syed Ali Shah Geelani to appear before it on December 18 for adjudication proceedings related to a foreign exchange violation case involving $10000 "illegally" possessed ...

Panama Papers: ED set to issue 50 FEMA notices

Panama Papers: ED set to issue 50 FEMA notices

Panama Papers: ED set to issue 50 FEMA notices. The Enforcement Directorate (ED) is set to take the first consolidated action against those named in the Panama Papers list. india Updated: Dec 14, 2017 22:53 IST. P Suchetana Ray Hindustan Times, New ...

Panama: ED seizes over Rs 48 cr assets of Ahmedabad firm

Panama: ED seizes over Rs 48 cr assets of Ahmedabad firm

The firm, it alleged, also violated other provisions of the FEMA. "Sintex Industries Limited, Ahmedabad contravened the provisions of section 4 of FEMA, 1999 and a total amount of USD 3 million and SGD (Singapore Dollar) 62,50,000 (equivalent to Rs 48 ...

What's the Plan, Government - Bitcoin or No Bitcoin For India?

What's the Plan, Government - Bitcoin or No Bitcoin For India?

Any legalization of Bitcoin or introduction of a new cryptocurrency, even if RBI controlled, will need an amendment in the RBI Act of 1934 and FEMA, at least. The government has been taking a 'wait and watch' policy when it comes to cryptocurrencies ...

ED slaps Rs 1000-crore FEMA notice on NRI businessman

ED slaps Rs 1000-crore FEMA notice on NRI businessman

The ED earlier said that Thampi had "acquired huge agricultural land mass in Palwal and Faridabad districts of Haryana in the name of his company Holiday City Centre Pvt. Ltd. by circumventing the prescribed law of land and in contravention of extant ...

ED seizes properties worth Rs 10.35 crore in Panama Papers case

ED seizes properties worth Rs 10.35 crore in Panama Papers case

New Delhi [India], December 9 (ANI): The Enforcement Directorate (ED) on Saturday seized properties worth Rs 10.35 crore in the form of mutual funds from Whitefield Chemtech Pvt. Ltd., which is controlled by Chirayu Amin and his family, under section ...

Foreign investment regime overhauled | draining the swamp?

Foreign investment regime overhauled | draining the swamp?

On 7 November 2017, the Reserve Bank of India (RBI) issued Foreign Exchange Management (Transfer and Issue of Security by a Person Resident Outside India) Regulations, 2017 (New FEMA 20) to replace the Foreign Exchange Management (Transfer and Issue of ...

ED confirms seizure of 1.6 crore from city bizman account under ...

ED confirms seizure of 1.6 crore from city bizman account under ...

CHENNAI: The Chennai zone of the Enforcement Directorate (ED) on Thursday confirmed that it had seized movable properties worth 1.59 crore of city-based businessman Pradip D Kothari, under Section 37A of the Foreign Exchange Management Act (FEMA), for ...and more »

ED completes adjudicating proceeding in FEMA violation case against Kolkata Knight Riders owner

ED completes adjudicating proceeding in FEMA violation case against Kolkata Knight Riders owner

COMPLETING the adjudication hearing in the case of alleged Foreign Exchange Management Act (FEMA) violation by Knight Riders Sports Pvt Ltd (KRSPL), the Enforcement Directorate (ED) has reserved its order. KRSPL owns the Kolkata Knight Riders (KKR ...

HSBC Black Money: HSBC list: ED gets nod to attach Chennai ...

HSBC Black Money: HSBC list: ED gets nod to attach Chennai ...

The central probe agency said it had got the approval of the competent authority -- the Commissioner of Customs (Appeals) -- for seizing the assets.and more »