The 71-year-old politician has been asked to depose at the agency office in Kochi on January 12, they said.
Finance Minister Nirmala Sitharaman on Sunday announced an increase in the Securities Transaction Tax (STT) on Futures and Options trade with a view to discouraging small investors from speculative trading in derivatives, which led to a sharp decline in the stock market.
The Supreme Court acknowledged a clean chit from a special investigation team (SIT) regarding the Vantara zoological rescue and rehabilitation centre in Gujarat's Jamnagar, following allegations of irregularities.
The Bombay High Court has imposed a cost of Rs 1 lakh on former cricket administrator Lalit Modi while dismissing his petition seeking an order to BCCI to pay penalty of Rs 10.65 crore imposed on him by ED for violating Foreign Exchange Management Act (FEMA).
The federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was "non-cooperative". The agency's probe against the crypto exchange is linked to its ongoing investigation against a number of Chinese loan apps (mobile applications) working in India.
Even as illegal purchase of land violating Foreign Exchange Management Act (FEMA) is haunting Goa government, an ad hoc committee was told that the state can restrict the sale of land to foreign nationals under Foreigners Rule, 1946.
Fight on toward goals that keep receding, or exit with most objectives unmet. Trump is agitated, his poll numbers falling below the Plimsoll line, his base fractured between those who back the war and those who remember that he campaigned on ending them.
Even as the Income Tax department is probing the financial dealings of the money-spinning Indian Premier League, the Enforcement Directorate (ED) will look into the alleged murky international deals of the Twenty20 tournament. Official sources said the Mumbai wing of the ED had conducted a discreet inquiry into the finances of Rajasthan Royals in 2008 and had prepared a report of alleged Foreign Exchange Management Act (FEMA) violations.
About 281 cases have been taken up for investigation by the Directorate of Enforcement regarding suspected violations of foreign direct investment (FDI) norms all over the country during April 2019 to March this year, Parliament was informed on Wednesday. Necessary action as per provisions of Foreign Exchange Management Act, 1999 (FEMA) has been taken, which includes issuance of show cause notices, adjudication and imposition of penalty, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In these cases, following the due process of adjudication, penalties of more than Rs 2,600 crore have been imposed under the FEMA, he said, adding the Reserve Bank of India (RBI) has done compounding of contraventions of FDI related FEMA provisions in total of 1,421 cases across the country during the last three years.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
The Enforcement Directorate is likely to book former IPL chairman Lalit Modi under the stringent Prevention of Money Laundering Act, which gives the Directorate the power to arrest and attach properties.
The Bharatiya Janata Party on Tuesday said it is against rushing through the Foreign Direct Investment-related Foreign Exchange Management Act notification in Parliament along with the main debate on the issue.
'Legally clean farmland is difficult to find. It requires time, money, and legal effort to verify the title.'
'This marks a turning point for Paytm, with the regulatory environment looking much clearer than it has been in the last two years.'
The senior counsel appearing for the former MP claimed she was being "hounded", and information on issuance of summons to her by the agency was published by the media even before she received it.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
They said the 32-year-old actor has been asked to appear before the central probe agency next week in Mumbai.
'...a mix of asset classes.' 'Include equities for growth (across market caps), debt for stability and liquidity, gold as a hedge against macro and currency risk, and global assets for geographical and economic diversification.'
'Reviewing terms such as war, invasion, acts of foreign enemies or hostilities, which often appear in industry exclusion lists, can help avoid surprises at the time of claim.'
The Enforcement Directorate (ED) has filed a money laundering case against Trinamool Congress leader Mahua Moitra and businessman Darshan Hiranandani in connection with an alleged cash-for-queries scam case, official sources said Tuesday.
The Enforcement Directorate on Friday said it has issued a show cause notice to the country's largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA). WazirX, registered under the company named Zanmai Labs Pvt Ltd, was incorporated in December, 2017 as a domestic cryptocurrency start-up and its directors Nischal Shetty and Hanuman Mhatre, along with the company, have been named in the notice issued by the central probe agency after completion of investigation. The agency issued a statement saying that it stumbled upon the transactions of the company during an ongoing money laundering probe into the "Chinese-owned" illegal online betting applications.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
The adjudicating authority of the Enforcement Directorate ED has adjudicated a show cause notice issued to Amnesty India International Pvt Ltd (AIIPL) and its CEO Aakar Patel for contravention of the provisions of Foreign Exchange Management Act and imposed a penalty of Rs 51.72 crores and Rs 10 crores respectively on them, the probe agency announced on Friday.
The Enforcement Directorate, which probed the alleged contravention of foreign exchange laws by Walmart in its investments in domestic supermarket chain Bharti Enterprises, has found no violation of FDI guidelines by the US multinational retail giant.
Moitra, who was expelled from the Lok Sabha in December for "unethical conduct", has been renominated by her party from West Bengal's Krishnanagar seat in the upcoming Lok Sabha polls.
Exporters involved in legal disputes with several private sector banks over foreign exchange derivative deals are now accusing the latter of violating the Foreign Exchange Management Act guidelines. Around 50 exporters in various states including Tamil Nadu, Andhra Pradesh, Karnataka and Punjab have taken private banks like ICICI Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank and HDFC Bank to court over foreign exchange derivative deals.
The Enforcement Directorate (ED) on Friday said it has issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, its chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks for alleged violations of the foreign exchange law to the tune of more than Rs 5,551 crore.
An Enforcement Directorate (ED) investigation into alleged foreign exchange law violations by edtech major Byju's and its CEO and co-founder Raveendran Bjyu is in the final stages of completion following which a show cause notice could be served to them, official sources said Tuesday. The central probe agency had in April searched two business and one residential premises, including that of the registered company of Byju's -- Think & Learn Pvt. Ltd. -- under the provisions of the Foreign Exchange Management Act (FEMA).
Raninder Singh has been asked to depose at the central probe agency's office in Jalandhar on October 27, they said.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
The 49-year-old Trinamool Congress leader was called for questioning twice earlier by the central agency, but she did not depose citing official work and sought deferment of the notice.
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
They said the notice was issued, after completion of the probe, under the Foreign Exchange Management Act (FEMA).
Last October's circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered "indirect foreign investment" if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
During the financial years between 2012-13 to 2021-22, the federal probe agency filed a total of 3,985 criminal complaints under the Prevention of Money Laundering Act and 24,893 under the civil law of the Foreign Exchange Management Act.
The Enforcement Directorate (ED) on Thursday issued summonses to two Trinamool Congress leaders, including MP and popular Bengali actor Dev, for questioning in connection with its probes into money laundering cases, an official said.
Congress rebel Y S Jaganmohan Reddy, who was arrested by the Central Bureau of Investigation on Sunday after days of questioning in a DA case, is likely to be quizzed this week by the Enforcement Directorate in connection with the probe against him and others in an alleged money laundering and foreign exchange violations case.
