GTL Infra admits undisclosed income of Rs 500 cr

In a separate reply,the minister said the Enforcement Directorate has issued notices worth Rs 22 crore in connection with Hawala transactions this year.

“During the current year up to October 2011,the Directorate of Enforcement has issued 117 show cause notices involving an amount totalling to Rs 2246.31 lakh in respect of Hawala in contravention of the provisions of the Foreign Exchange Management Act (FEMA),” Palanimanickam said.

He said the agency takes action under FEMA provisions on the “basis of specific information”.