The action is part of the mandate given to the ED under a Special Task Force (STF) that was recently created by the government on the directions of the Prime Ministers Office (PMO).
The Enforcement Directorate today issued a show-cause notice to actor Shah Rukh Khan, his wife Gauri, actor-friend Juhi Chawla and others for alleged loss of Rs 73.6 crore foreign exchange in a FEMA case related to the T-20 cricket league IPL.
The RBI today told the Delhi High Court that it wants to take a fresh look into the USD 1.17 billion arbitral award granted in favour of Japanese telecom major NTT Docomo for Tata Sons' alleged breach of its agreement.
The ED has issued a show cause notice to NRI businessman C C Thampi and his firms for alleged violation of forex laws amounting to over Rs 288 crore in acquiring vast tracts of land in Delhi and adjoining areas.
RBI today allowed NRIs access to the exchange traded currency derivatives (ETCD) market to hedge currency risk arising out of their investments in India, a move aimed at providing them additional heding options.
This article explains how an NRI can exchange old currency notes.
The RBI will remove restrictions on cash withdrawals after assessing market situation, Finance Minister Arun Jaitley said today even as he ruled out interfering with the conditions barring anyone other than NRIs and Indians returning from abroad from depositing the junked notes in select central bank branches.
The Indian property market has always been quite attractive for non-resident Indians (NRIs). The only concern, has been with the opaque nature of the business, with its lack of information and scientific process of R
RBI tonight came out with conditions for exchange of defunct notes for those, including non-resident Indians, who failed to do so till yesterday, the last day for depositing the invalid currency notes in banks.
The Reserve Bank today imposed penalty on five foreign banks, including Deutsche Bank and Standard Chartered Bank, for violation of its instructions on reporting requirements of the FEMA.
The Indian government unabashedly woos the Indian diaspora to invest in various sectors in India and is considering easing norms further. Yet, the government makes Non-Resident Indians (NRIs) jump through hoops when it comes R
ED has issued summons to the airline's officials and a few others to submit relevant documents and explain the matter to investigators next week as part of its probe into the case registered under the Foreign Exchange Management Act (FEMA).
"The data indicates that the main sectors in which black money is rampant include real estate, finance, trading, manufacturing, educational institutes and services," Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Lok Sabha.
It has also taken a host of initiatives, including effective enforcement of law, to curb the menace of money laundering in the country, Minister of State for Finance Santosh Kumar Gangwar said in a written reply to a question in the Lok Sabha.
The routing can happen as a seed stage or pre-series A funding round. Now to embezzle the funds, from that startup money you can buy a luxury car, pay yourself, your kin huge sums as directors. There are other assets that can be bought with that money in the company‘s name.
NTT DoCoMo in 2008 acquired 26.5 percent stake in Tata Teleservices for about Rs 12,740 crore (at Rs 117 per share). This was as per understanding that in case it exits the venture, it will be paid a minimum 50 percent of the acquisition price.
As many as 81 cases have been under investigation by the Enforcement Directorate for alleged violation of provisions of the Foreign Exchange Management Act relating to FDI.
The Special Investigating Team (SIT) on black money wants to identify companies that have failed to bring back export proceedings into the country for over a year.
A title search, is a due diligence investigation of various aspects of a property, to ascertain its legal health. â€œIn the case of resale properties, the existing owner may have created encumbrances on the R
Factors like considering market value of such assets as on June 1, 2016 and no immunity from FEMA aur Money Laundering Act would be a worry for those who want to disclose their assets, says Arun Giri of Taxsutra.com.
The agency had registered a FEMA case in 2012 and is also probing the deal under anti-money laundering laws. Antrix had signed a deal with Devas in January, 2005 to provide it with crucial S-Band wavelength, which is primarily kept for strategic interests of the country.
With traders body CAIT alleging violation of foreign direct investment norms in the e-commerce sector by Flipkart and Paytm, the DIPP on May 10 said it is the RBI that "administers" the FDI policy and ED which is the "enforcing authority".
The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs 251, for alleged contravention of FEMA.
"Keeping in view the objective of promoting ease of doing business, a need was felt to consolidate the regulations and rationalise them in light of evolving business environment and changing practices in cross-border transactions relating to external trade and payments," RBI said.