Foreign Exchange Management Act

The criteria for determining residential status under the Income Tax Act differ from those under FEMA.

VCs in wait-and-watch mode as startups brace for second-order impact of ED searches at Byju’s offices

Since the ED has not filed any direct allegation against the company, shareholders may not be immediately worried. “But the fact that founder and CEO Byju Raveendran is evasive is worrying. That raises questions. Is he hiding something? This might be concerning them,” said an investor

CBDT likely to issue rules on angel tax next week: Sources

The Finance Ministry and the Department for Promotion of Industry and Internal Trade (DPIIT) were discussing guidelines to provide clarity on angel tax

Xiaomi approaches Karnataka HC again over seizure of assets

In a petition filed on October 3, the company has challenged the September 29, 2022 order of the Foreign Exchange Management Act (FEMA) Competent Authority which confirmed the April 29 seizure order of the Enforcement Directorate (ED).

ED seizes over Rs 40-crore assets of Pune businessman in FEMA case

The attached assets are in the form of equity shares and preference shares held in Classic City Investment Pvt Limited, Pune, which owns three luxury hotels in five-star category--Hotel Westin, Pune, Hotel Le Meridien in Nagpur and Hotel W Retreat & Spa located in Goa, the agency said.

High Court relief to NDTV; asks RBI to consider its compounding pleas under FEMA

In November 2015, the ED had issued show-cause notices to NDTV for allegedly flouting foreign exchange regulations while availing of overseas and foreign direct investment facilities to the tune of over Rs 2,000 crore.

Three cases under probe for possible violation of FEMA: Govt

The government has initiated three investigation cases against e-commerce companies till February this year for possible violation of the Foreign Exchange Management Act (FEMA), Parliament was informed today.

Policy changes to attract NRIs to Indian realty, in 2017

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 &#82

ED probes deposits of over Rs 1,500 cr in co-op banks

The agency has registered over 26 criminal cases under the Prevention of Money Laundering Act (PMLA), arrested 18 people and over 150 inquiries have been launched under the Foreign Exchange Management Act (FEMA) since November 8, official sources said.

ED registers FEMA case in Rs 22 cr fraud claim in Air Asia

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).

RBI administers FDI policy;ED enforcing authority:DIPP to CAIT

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".

Govt unearths indirect tax evasion of Rs 50,000 cr in 2 yrs

Finance Ministry in a statement today said the crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years, a 32 per cent jump over a similar previous period.

RBI mulling to reduce documentation for hedging

"With a view to easing the process of hedging, it is proposed to introduce a more liberalised framework for importers and exporters by reducing the documentary requirements for hedging trade transactions under the contracted exposure route," RBI said on its website.

RBI proposes changes in timeframe for share issuance

As per draft norms, an investee company receiving FDI should issue shares within 60 days of receipt of foreign investment and file the report with the Reserve Bank. Timeline under FEMA is 180 days of the receipt of FDI

IT dept searches premises connected with Karti Chidambaram

In August Enforcement Directorate had issued summons to two directors of a firm linked to Karti in connection with its money laundering and hawala probe in the Aircel-Maxis case.

PFRDA may allow fund managers to invest 3% of corpus in PE

Sector regulator PFRDA is looking at allowing pension fund managers to invest up to 3 per cent of corpus in private equity (PE) to maximise return, and a decision in this regard is likely to be taken in 3-4 months.

Black Money: ED attaches assets worth over Rs 9,000 cr

The agency which probes financial crimes under prime laws of the Prevention of Money Laundering Act (PMLA), the Foreign Exchange Management Act (FEMA) and the repealed Foreign Exchange Regulation Act (FERA) has broken all records of lodging complaints and prosecuting the accused of financial frauds, hawala and money laundering.

SIT on black money recommends empowering ED

According to sources, SIT on black money has recommended that the enforcement agency be allowed to initiate a probe without any predicate offences under PMLA.

Financial Tech down 6%; ED alleges misdeed in NSEL

ED has suggested financial irregularities in the form of Foreign Exchange Management Act (FEMA) violations and more violations under Preventive Money Laundering Act (PMLA), indicating siphoning of money took place.

Rumours of capital control false: RBI

Reserve Bank have dismissed rumors that the it may impose capital control measures on foreign institutional investors (FII). For Foreign Direct Investment (FDI) under the Foreign Exchange Management Act (FEMA) itself it will be illegal to stop any such repatriation, reports CNBC-TV18's Latha Venkatesh.

Emaar violated rules in Rs 8,600cr investment: Govt

The government on Tuesday accused Emaar MGF Land Ltd , a joint venture between Dubai's Emaar Properties PJSC and India's MGF Development Ltd, of violating foreign exchange rules over investments of Rs 8,600 crore.

Speaker rejects BJP, Left demand for separate FEMA debate

Opposition BJP and Left parties demanded separate debates with voting on FDI in retail and related amendments in Foreign Exchange Management Act (FEMA) rules in Lok Sabha, but it was vociferously opposed by the government and rejected by Speaker Meira Kumar.

FDI in retail: FEMA regulations tabled in LS

The government today tabled in Lok Sabha amendments to FEMA Regulations, including the one that has operationalised the controversial decision to allow FDI in the multi-brand retail.

ED issued 220 FEMA notices in three years: Govt

The Enforcement Directorate has issued 220 notices for violation of forex laws in the last three years.