Stay updated with the latest federal-emergency-management-agency news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on federal-emergency-management-agency topics.
New Delhi, April 2 (SocialNews.XYZ) The Reserve Bank of India (RBI) has issued a compounding order on February 20 this year under Section 15 of the Foreign Exchange Management Act (FEMA), 1999, in the Rs 4.1 crore case filed against Vikram Mundlur, which has resulted in the termination of adjudication proceedings against him for contraventions of provisions of FEMA, 1999. The order has been passed by the RBI after issuance of a "no objection" statement by the Enforcement Directorate (ED) which ...Read More >
Plea filed by KIIFB challenging a notice issued against the board by the ED in connection with the usage of funds generated through masala bonds for infra development in the State. The ED had initiated proceedings under the Foreign Exchange Management Act. The Kerala High Court has issued a three-month interim stay on a notice issued by the Directorate of Enforcement (ED) to Kerala Infrastructure Investment Fund Board (KIIFB) on the utilisation of funds raised through masala bonds for the board ...Read More >
Reliance Group chairman Anil Ambani will appear virtually before the Enforcement Directorate. He received a summons under FEMA related to a 2010 highway project. The ED is investigating alleged hawala transactions of Rs 100 crore. Ambani's spokesperson stated he will fully cooperate. The matter concerns a road contractor and a domestic contract. The highway project is now with the NHAI. Reliance Group chairman Anil Ambani has offered to appear before the Enforcement Directorate through "virtual ...Read More >
Hyderabad: The Directorate of Enforcement (ED), Hyderabad Zonal Office, on Friday conducted searches at five locations in the city targeting full-fledged money changers (FFMCs). The firms raided include Prism Forex Private Limited, Garuda Forex Services Private Limited, Sree Vimal Nath Forex Private Limited, Victory Forex and Travel Services Private Limited, and Digital Forex Private Limited. According to ED officials, the FFMCs and their managements were allegedly operating illegally without v ...Read More >
Flipkart and Amazon India have been under ED scrutiny for alleged breach of FEMA provisions. The Enforcement Directorate (ED) is learnt to have offered the option of closing a FEMA violation case against e-commerce major Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said. The option was given by the Enforcement Directorate to Flipkart last week under the compounding rules of FEMA (Foreign Exchange Management Act). "ED has given the ...Read More >
The Enforcement Directorate has issued a crucial clarification regarding arrests. It states that digital or online arrests are not part of the anti-money laundering law. All arrests are conducted physically and in person, following due procedure. The agency also warned against fake summons being sent by criminals for cheating and extortion. There is no concept of digital or online arrest under the anti-money laundering law and the ED undertakes such a procedure only in person, the federal probe ...Read More >
The Enforcement Directorate (ED) alleged that the B C Jindal group and its promoters transferred around ₹505 crore abroad through sham transactions. Searches were conducted at 13 Delhi premises of the group and its directors for suspected FEMA violations, including round-tripping via overseas entities Topaz Enterprise DMCC and Garnet Enterprise DMCC. ED claimed inflated valuations facilitated the transfers. The Enforcement Directorate (ED) on Wednesday alleged that the B C Jindal group of comp ...Read More >
Thiruvananthapuram, Sep 24 (SocialNews.XYZ) A day after a joint raid conducted by the DRI and Customs officials into the luxury car smuggling racket through its 'Operation Numkhor', which exposed tax evasion worth crores through illegal imports routed via Bhutan, the Enforcement Directorate is mulling joining the probe. On Tuesday, the raid confiscated about 36 cars from various people, including Mammootty's actor son Dulquer Salman, upcoming actor Amit Chakalackal and others. The high-profile ...Read More >
New Delhi: The Enforcement Directorate (ED) has decided to initiate "focused strategies" to investigate financial crimes arising from the recent Union government ban on real-money online gaming. The federal agency will also ensure the timely filing of charge sheets and pursue the "fast tracking" of trials in money laundering cases. These issues were discussed during the 32nd quarterly conference of all zonal officers, comprising supervisory heads of the agency, held in Srinagar, Jammu and Kashm ...Read More >
The Enforcement Directorate searched real estate company BPTP in Delhi-NCR. The searches relate to a foreign exchange violation case. The case involves funds of about Rs 500 crore. BPTP allegedly received foreign investment from Mauritius. This investment occurred during 2007-2008. The investment contravened FEMA rules. CMD Kabul Chawla allegedly held foreign assets anonymously. The Enforcement Directorate (ED) on Tuesday searched premises related to real estate company BPTP across the Delhi-NC ...Read More >
New Delhi, Aug 29 (SocialNews.XYZ) The Enforcement Directorate, Gurugram office carried out search operations on August 26-27 under the provisions of Foreign Exchange Management Act (FEMA), 1999 at multiple locations in Delhi-NCR and Noida in connection with FEMA investigation against M/s BPTP Ltd. (formerly M/s. Business Park Town Planners Private Limited), a real estate company based in Faridabad, Haryana. The search operations were carried out at the offices of M/s BPTP Ltd. and the residenc ...Read More >
New Delhi, Aug 26 (PTI) The Enforcement Directorate (ED) on August 26 searched premises related to real estate company BPTP across the Delhi-NCR region as part of a foreign exchange violation case involving funds of about ₹500 crore, official sources said. Locations of the Business Parks Town Planners Private Limited (BPTP) in Delhi, Noida and Faridabad were searched under the provisions of the Foreign Exchange Management Act (FEMA), they said. A probe found that BPTP received foreign investme ...Read More >
New Delhi [India], July 18 (ANI): In a series of posts the founder of embattled ed tech firm BYJU, Byju Raveendran, has claimed that the counsel for GLAS trust has made unsubstantiated allegations against him during proceeding in a US Court in Delaware. Glas Trust is the trustee representing lenders. https://x.com/ByjuofBYJUS/status/1946086847869784214 In a post on X Byju Raveendran alleged, Shocking revelations from Delaware court transcripts! GLAS counsel Ravi Shankar is at it again, lying t ...Read More >
New Delhi, Jun 30 (PTI) The Supreme Court on Monday junked a plea filed by former cricket administrator Lalit Modi seeking an order to the BCCI to pay a penalty of Rs 10.65 crore imposed on him by the ED for violating the Foreign Exchange Management Act (FEMA). A bench of Justices P S Narasimha and R Mahadevan, however, said Modi will be entitled to avail civil remedies as available according to law. The Bombay High Court on December 19 last year had imposed a cost of Rs 1 lakh on Modi while d ...Read More >
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