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Aug 09, 2012, 04.39 PM IST
The Enforcement Directorate has initiated a probe against Reebok India under foreign exchange laws, government said in Parliament today.
"Investigations under Foreign Exchange Management Act (FEMA) in respect of Ms Reebok India has been initiated," Minister of State for Finance SS Palanimanickam told Rajya Sabha in a written reply today. The minister also said the ED has issued 23 show cause notices under the Prevention of Money Laundering Act (PMLA) and 37 notices under the Foreign Exchange Management Act (FEMA) against various private companies and multinational firms during 2011-12. The corresponding figures during 2010-11 were 31 (PMLA) and 34 (FEMA).
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