FEMA

  • ED arrests Mumbai's Lilavati Hospital promoter Kishor Mehta over FEMA violation 17 hours 13 minutes ago

    Mumbai: Enforcement Directorate (ED) arrested promoter of Mumbai-based Lilavati hospital, Kishor Mehta on Wednesday morning at 7 AM on charges of Foreign Exchange Management Act (FEMA) violation. ED officials say he had made a series of foreign transactions amounting to around 20 million dollars. The transactions indicated foreign exchange violation....
  • Assets, properties worth Rs 1,759 crore seized by ED April 29, 2014

    New Delhi: Over Rs 1,750 crore worth of properties and valuable assets have been seized by Enforcement Directorate (ED) in the last one year even as the antimoney laundering agency launched maximum number of prosecution for alleged violations during the same period. The agency carried out a total of 127 attachments...
  • Walmart violated Indian rules governing foreign investment: CBI July 20, 2013

    Mumbai: Walmart Stores Inc violated Indian rules governing foreign investment, the Central Bureau of Investigation (CBI) said in a letter to a member of Parliament seen by Reuters. The CBI said in the letter that according to its analysis, Walmart's investment violated Reserve Bank of India guidelines and Foreign Exchange Management...
  • ED slaps Rs 100 crore notice on Rajasthan Royals February 4, 2013

    Mumbai: A day after the player auctions for Indian Premier League Season 6, the Enforcement Directorate has slapped a notice of Rs 100 crore on the Indian Premier League franchise Rajasthan Royals over alleged violations of the Foreign Exchage Management Act (FEMA). This came after the ED found that the foreign...
  • US: Congress to vote on Superstorm Sandy flood aid January 4, 2013

    Washington: A $9.7 billion measure to pay flood insurance claims is set for a vote in Congress, boosting prospects for relief for the many home and business owners flooded out by Superstorm Sandy. If the House, as expected, approves the flood insurance proposal on January 4, the Senate plans to...
  • Oppn graceless in defeat on FDI, says Anand Sharma December 8, 2012

    Commerce Minister Anand Sharma has said that FDI in multibrand retail is now a reality and the government will look to build consensus on the pension and insurance bills. Speaking to CNBCTV18 Executive Editor Shereen Bhan, Anand Sharma also said that the Opposition was graceless in its defeat. Following is an...
  • UPA wins vote on FDI, FEMA in Lok Sabha December 5, 2012

    New Delhi: The United Progressive Alliance (UPA) government on Wednesday succeeded in defeated the motions moved by the opposition parties against foreign direct investment in retail and modifications in FEMA. In the motion against the FDI moved by the Bharatiya Janata Party (BJP), while there were 253 votes against the...
  • The Last Word: Is it already clear how the FDI vote will go? December 4, 2012

    Could the controversy over the FEMA rule changes bedevil the future of FDI for weeks if not months ahead? ...
  • Amended FEMA rules to notify FDI tabled in Parliament November 30, 2012

    New Delhi: Paving the way for FDI in multibrand retail, the government has tabled the amended rules of the Foreign Exchange Management Act (FEMA) in both houses of Parliament. The amendments are crucial for the government to notify FDI in retail, a segment in which trade is currently restricted under...
  • Govt to table amended FEMA rules in Parl to notify FDI November 30, 2012

    New Delhi: The stage is set for a vote on FDI in retail in Parliament after a week into the Winter Session which has been marred by frequent disruptions and daily adjournments so far. On Friday, the government plans to table amended rules of the Foreign Exchange Management Act in...
  • SC tells govt to amend FEMA rules to implement FDI October 15, 2012

    New Delhi: The Supreme Court has come to the government's rescue on Foreign Direct Investment (FDI) in the retail sector. The Supreme Court has asked the government to amend the Foreign Exchange Management Act (FEMA) regulations to implement FDI in retail. The court said that the RBI has till date not...
  • Fresh ED notice to BCCI over IPL2 contracts August 27, 2012

    Mumbai: The Enforcement Directorate (ED) on Monday issued a showcause notice to the BCCI for alleged foreign exchange violations in acceptance of deposits of Rs. 60 crore for award of contract for conducting the second season of the Indian Premier League. ED sources said investigation has revealed that the Foreign Exchange...
  • ED slaps notices against Ramdev and his trusts August 25, 2012

    New Delhi: The Enforcement Directorate (ED) has slapped notices against yoga guru Ramdev and his two trusts for alleged violations of foreign exchange laws. The notices, relating to alleged unaccounted payment of Rs 60 lakh, have been issued to the Divya Yog Mandir Trust and Patanjali Yog Peeth Trust. The notices...
  • ED sends notice to Ramdev aide Balkrishna August 23, 2012

    New Delhi: The Enforcement Directorate (ED) has sent a to Baba Ramdev's aide Balkrishna under Foreign Exchange Management Act (FEMA). The ED had registered a case against Balkrishna under the Prevention of Money Laundering Act on Wednesday. According to the ED's initial investigations Balkrishna was involved in a Jharkhandbased company and...
  • India allows investments from Pak: Anand Sharma June 8, 2012

    New Delhi: In order to strengthen bilateral economic relations, India has allowed foreign direct investment from Pakistan, Commerce and Industry Minister Anand Sharma said on June 8. Emphasising the need to increase economic engagement with the neighbouring countries, Sharma said: "We have allowed Indian investments in Pakistan...
  • Rs 32,000 crore forex scam forgotten! June 3, 2012

    New Delhi: In UPA's summer of discontent, it continues to rain scams. The Central Bureau of Investigation (CBI) had unearthed a huge forex derivatives scam, pegged at Rs 32,000 crore which has been conveniently brushed under the carpet by the government for three years. On January 4, 2012, Parliament's Public Accounts...
  • Govt to unveil revised FDI policy paper on Friday March 29, 2012

    New Delhi: The government will on Friday release the revised consolidated foreign direct investment (FDI) policy paper, a ready reckoner for foreign investment related regulations. "This will incorporate all changes effected in FDI Policy...i.e. from October 1 to March 31," a Department of Industrial Policy and Promotion (DIPP) official said. The...
  • India may allow Pakistani investments February 17, 2012

    Islamabad: In a major step forward towards normalising business ties, the Indian government plans to bring changes in the Foreign Exchange Management Act (FEMA) to allow investments from Pakistan, a senior government official said on Thursday. "Commerce ministry has sent a proposal to the finance ministry for change in FEMA rules...
  • ED issues 19 show cause notices to BCCI November 29, 2011

    New Delhi: The BCCI is in the dock after the Enforcement Directorate issued 19 show cause notices for foreign exchange contraventions. CNNIBN has accessed a copy of the government probe reports conducted in the working of the BCCI and the management of the Indian Premier League (IPL). The Enforcement Directorate has...
  • ED notice to BCCI over FEMA violations in IPL 2 November 28, 2011

    New Delhi: The Enforcement Directorate has issued a notice to the BCCI for alleged breach of foreign exchange rules in the Indian Premier League Season 2, according to reports. The notice has been sent for alleged FEMA violations pertaining to an amount of Rs 16,500 crore. The season 2 of IPL had...
  • Government trying to defame me, says Ramdev September 3, 2011

    New Delhi: Yoga Guru Baba Ramdev on Saturday said he has not received any notice under the Foreign Exchange Management Act (FEMA) from the Centre. Addressing a press conference, Ramdev alleged that this is an attempt by the Government to force him to stop his campaign against corruption and black money. "This...
  • FEMA violation case registered against Ramdev September 1, 2011

    New Delhi: The Enforcement Directorate (ED) on Thursday registered a foreign exchange violation case against Baba Ramdev and his trust. The Directorate has found evidence of Ramdev and his trusts receiving financial aid from the USA, Britain and New Zealand. Ramdev and his trust reportedly received Rs 7 crore from Britain....
  • SC asks Chandraswami to deposit Rs 25 lakh June 15, 2011

    New Delhi: The Supreme Court on Wednesday directed selfproclaimed godman Chandraswami to deposit Rs 25 lakh within a week as the first tranche of penalty in several FEMA violation cases registered by the Enforcement Directorate. A vacation bench of justices B S Chauhan and Swatanter Kumar directed Chandraswami and his associate...
  • Court allows Adnan Sami to travel abroad June 7, 2011

    Mumbai: In a reprieve to noted Pakistani singer Adnan Sami, the Bombay High Court on Tuesday allowed him to travel abroad whenever he wishes to till the end of the trial against him under the FEMA. The court while hearing an appeal filed by the singer...
  • 2G scam: the A RajaSadiq Batcha link March 16, 2011

    New Delhi: Sadiq Batcha, a close aide of former telecom minister A Raja, hailed from his own hometown of Peramballur. Batcha was the managing director of a real estate company called Green House Promoters. It is this company that the investigators suspect was floated to bring in the bribe money. The...
  • Rahat quizzed again, probe nearing completion February 19, 2011

    New Delhi: Pakistani sufi singer Rahat Fateh Ali Khan was questioned on Friday by the Directorate of Revenue Intelligence officials for allegedly carrying $1.24 lakh (about Rs 60 lakh) of undeclared foreign currency. DRI sources said the investigation against Rahat and four of his associates was nearing...
  • MP IAS couple violates FEMA, gets ED notice January 21, 2011

    Bhopal: The Enforcement Directorate on Thursday served notices to tainted IAS couple Tinoo and Arvind Joshi for allegedly violating the Foreign Exchange Management Act. A case has also been registered under directions of the Lokayukta. It wasn't just the currency notes that were recovered from the home of senior IAS...
  • ED notice to MP IAS couple for FEMA violations January 20, 2011

    New Delhi: The Enforcement Directorate on Thursday served a notice to tainted Madhya Pradesh IAS couple Tinu and Arvind Joshi for alleged violation of the Foreign Exchange Management Act (FEMA). The move comes after the submission of a 7,000page appraisal report by the Income Tax department to Madhya Pradesh Chief Secretary...
  • Prize catch in Delhi: Hawala kingpin in police net December 8, 2009

    New Delhi: Fiftyyearold Naresh Kumar Jain can be called the perfect whitecollared criminal. He is a class 10 passout but has hawala operations reportedly worth over Rs 5,000 crore spread over four continents. He is also allegedly known for links with drug traffickers in Italy, Dubai and the US. Jain was...
  • Goa govt to prohibit land sale to foreigners March 14, 2008

    New Delhi: The Goa government has decided not to allow foreigners to buy land in the state and the Land Registry Authority will be given powers not to accept applications from foreigners. Earlier a foreigner, who held a business visa and completed a stay of 182 days in a financial year...