scorecardresearch
Sunday, November 3, 2024
TopicFEMA

Topic: FEMA

Synthetic diamonds, shell companies, overvalued jewellery — how money is laundered in diamond trade

Modus operandi employed by diamond jewellery businesses to launder money involves import of cheap, synthetic diamonds that are usually overvalued by over 100 times, it is learnt.

ED summons former Trinamool MP Mahua Moitra in FEMA case on February 19

The TMC leader is being investigated under the Foreign Exchange Management Act for allegedly compromising national security for monetary gains.

ED raids premises of Congress’ Telangana candidate Vivek Venkatswamy in FEMA case probe

With declared assets worth over Rs 600 crore, Vivek is the richest politician contesting the November 30 assembly polls in Telangana.

ED summons Rajasthan CM’s son Vaibhav Gehlot in FEMA case, raids premises of state Congress chief, MLA

CM Ashok Gehlot attacks BJP, says his son received ED summons just a day after Congress launched guarantees for women in the state, which goes to polls next month.

After Anil Ambani, wife Tina appears before ED in foreign exchange violation case

The probe pertains to the alleged possession of undisclosed assets abroad and the linked movement of funds. Anil Ambani is expected to reappear before the ED later this week.

ED seizes funds worth Rs 107 crore of Chinese-controlled loan app firm over FEMA violation

ED came across the case during an ongoing money laundering probe against a number of NBFCs & FinTech companies that are linked to instant personal loan-providing mobile applications.

ED slaps Rs 10,600-crore notice to Flipkart, its founder over alleged forex violations

The show cause notice was issued to 10 people including Flipkart founders Sachin Bansal & Binny Bansal. Flipkart said it's in compliance with Indian laws, including FDI regulations.

ED summons Punjab CM Amarinder’s son Raninder Singh in ‘foreign exchange violations’ case

Raninder Singh was earlier questioned in the FEMA case in 2016 and was asked to explain the alleged movement of funds to Switzerland and a trust in the British Virgin Islands.

ED seizes DMK MP Gautham Sigamani’s assets worth Rs 8.6 crore in FEMA violation case

The ED said it got information that Sigamani illegally acquired foreign security without RBI approval & contravened provisions of section 4 of the Foreign Exchange Management Act.

Amnesty International India to challenge govt order freezing its accounts in Karnataka HC

While Amnesty said it was halting all operations in India due to govt's 'witch-hunt', MHA has said action was taken because the human rights body was receiving funds illegally.

On Camera

As a Hindu Canadian, I am deeply hurt by cancellation of Diwali. My community is now sidelined

Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.

Watch CutTheClutter: Flattening INR-USD rate, and debate on pros and cons of a ‘strong’ rupee

In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.

Indian firms sanctioned by US didn’t violate laws, says MEA. Hyderabad firm that supplied to Army on list

Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.

Xi wanted to teach India about imbalance of power. We should take a budgetary lesson from it

While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.