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Rs 5,551-crore FEMA violation: ED issues showcause notices to Xiaomi, 2 senior executives, 3 foreign banks

June 09, 2023 8:47 pm

Under the FEMA, a show-cause notice is issued after the completion of the ED investigation and once it is settled, an accused is required to pay penalty.

Cooperative banks will soon be able to do compromise settlements, write-offs on NPAs: RBI guv

June 08, 2023 1:52 pm

RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said.

International credit card spends outside India will attract 20% TCS: How cardholders may be impacted

May 19, 2023 4:35 pm

Experts said the changes for the credit card spends are expected to add to the compliance burden of banks and financial institutions.

The tall white BBC office building during Income Tax Department raids in New Delhi in February 2023.

As ED files case against BBC under Foreign Exchange Management Act, a look at why the law was brought in

April 14, 2023 7:22 am

FEMA came in 1999, after the Foreign Exchange Regulation Act or FERA of 1973, as a result of changing economic conditions in a post-liberalisation India.

Govt data: FEMA, PMLA cases triple in first 3 yrs of NDA-II versus NDA-I

July 26, 2022 7:00 am

The ED registered 14,143 cases under FEMA and PMLA between 2019-20 and 2021-22, as compared to 4,913 cases in 2014-15 to 2016-17 — an increase of over 187 per cent.

FEMA case: ED conducts searches at office of Avinash Bhosale

February 11, 2021 1:25 am

The exact details of the charges against the 60-year-old businessman were not immediately available.

rose valley scam, ed raids rose valley scam,enforcement directorate, St Xavier’s College, Kolkata and Knight Riders Sports

Terror financing: ED slaps Rs 15 lakh penalty, confiscates Rs 7 lakh hawala money

March 29, 2019 1:31 pm

The penalty and confiscation action has been taken under the Foreign Exchange Management Act (FEMA) and three people - Mohd Ayub Mir, Bechh Raj Bengani and Harbans Singh - have been charged under it, the agency said in a statement.

Vijay Mallya loses extradition appeal — what are his options?

Delhi court orders attachment of Vijay Mallya's properties in Bengaluru

March 23, 2019 1:48 pm

The Bengaluru Police had earlier informed the court that it had identified 159 properties belonging to Vijay Mallya but had not been able to attach any of them.

Enforcement Directorate imposes Rs 1.83-cr fine on businessman for FEMA violation

January 15, 2015 10:14 am

ED officials said they had probed charges of customs evasion against him.

Currency seizure case: ED clean chit to Tibetan leader

November 24, 2014 12:14 am

The ED, however, ordered confiscation of the seized forex that amounts to Rs 5.97 crore.

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