Tuesday, 4 October, 2022

Topic: FEMA

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.

ED probes private company linked to Amnesty International India over proceeds worth Rs 51cr

The ED is investigating two entities, the Amnesty International India Pvt Ltd and Indians for Amnesty International Trust.

Amrapali Group violated forex laws, laundered funds worth over Rs 55 crore, finds ED

The ED found at least seven 'contraventions' under FEMA and wants JP Morgan, a US-based investment banking firm, to be legally directed to remit funds worth about Rs 140 crore.

Election Commissioner Ashok Lavasa’s son quits job over ED probe, wife to resign as well

Abir and Novel Lavasa are said to have taken the decisions in the ‘larger interest of the firms they serve’.

Turmoil in India’s audit sector as ‘lapses’ lead to crackdown on Big 4

With more cases of fraud and financial mismanagement coming to the fore over the last few years, audit firms have increasingly come under scrutiny.

Rahat Fateh Ali Khan issued show cause notice in foreign exchange violation case

In 2011, Pakistani singer Rahat Fateh Ali Khan and his manager were intercepted at the Delhi airport for allegedly carrying an undeclared amount of $1.24 lakh.

On Camera


How RSS pracharak BL Santhosh has emerged as BJP’s ‘rock star’ general secretary

As BJP's general secretary (organisation), BL Santhosh holds enormous powers. But none of his predecessors were as high-profile as him, not even Narendra Modi.
Beneficiaries of the PM-GKAY PDS centre in Odisha | Representational image | ANI

Free grains, fuel tax deferred – Gujarat, HP on its mind, Modi govt puts politics over economy

RBI's rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.


The LCH is designed with stealth features such as reduced visual, aural, radar and infrared signatures | Photo: IAF

Prachand, India’s new Light Combat Helicopter, doesn’t yet have main arsenal or protection suite

IAF inducted new helicopter Monday, but it'll get anti-tank guided missile only by mid-2023, while air-to-air missiles haven't yet been ordered, it is learnt.

India’s hijab supporters will lose even if they win SC battle. Because the real war is political

In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.