Page 3 - Fema

ED freezes OctaFx Trading's bank balance of Rs 21.14 cr under FEMA

The Enforcement Directorate said it has frozen the bank balance to the tune of Rs 21.14 cr of OctaFx and related entities in the case of illegal online forex trading through international brokers

Nearly half of investigations under FEMA were pending till 2021-22

Issuance of show cause notices as a proportion of investigations has declined in 2018-19

After FEMA penalty, ED files chargesheet against Amnesty India, linked orgs

The Enforcement Directorate filed a money-laundering chargesheet against Amnesty India and a few other entities, a day after the agency imposed a penalty of over Rs 61 crore against the global NGO

ED slaps Rs 51 cr penalty on Amnesty India, Rs 10 cr on ex-CEO Aakar Patel

The Enforcement Directorate said the show cause notice of penalty was issued as the funds received "violated" Foreign Exchange Management Act provisions

ED issues notices to CoinSwitch, CoinDCX; seeks info under FEMA case

A few firms, including CoinSwitch and CoinDCX dealing in cryptocurrency have been asked by the Enforcement Directorate (ED) to submit some documents in connection with an ongoing case of the FEMA

New reporting requirements for companies put onus on auditors

Auditors to certify that transactions are not violative of PMLA/FEMA rules, according to ICAI guidelines

Govt amends FEMA rules to allow 20% foreign direct investment in LIC

The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC.

ED issues Rs 7,272 cr FEMA notice to BSE-listed company

The agency, in a statement, said the company and its board of directors made "serious lapses" as regards mandatory requirements

Joe Biden extends FEMA coronavirus aid for states through July 1

Biden, a Democrat, first signed an order directing FEMA to cover 100 per cent of state emergency costs related to the coronavirus on his second day in office through September 2021

Seizure of Rs 288-cr funds of Chinese-owned NBFC ordered

The NBFC was providing instant personal micro-loans through its mobile application called 'Cashbean' for suspicious foreign outward remittances, says ED

Centre orders multi-agency investigation into Pandora Papers leak

I-T dept may evoke Black Money Act; ED to examine FEMA violation

ED cracks whip on NBFCs, fintechs over high-cost micro loans, shady deals

Attaches amount of Rs 106 crore of non-banking company PC Financial under FEMA

Deduction of interest due to prepayment of usance bill is allowed: Expert

Exporters may approach AD Category-I banks for reduction in invoice value on account of cash discount to overseas buyers for prepayment of the usance bills

Government amends FEMA to enable FDI hike in insurance sector to 74%

Applications for FDI in pvt banks having JVs in insurance sector may be addressed to RBI for consideration in consultation with IRDAI to ensure foreign investment limit of 74% is not breached

Indian promoters likely to give personal guarantee on foreign assets

RBI proposal a departure from current norms under Fema

ED slaps Rs 10,600-crore notice on Flipkart for forex violations

The probe reflects discrepancies in Flipkart's structuring operations, according to the official

ED seizes over Rs 40-crore assets of Pune businessman in FEMA case

Assets worth over Rs 40 crore, including equity and preference shares in three luxury hotels, of Pune-based builder Avinash Bhosale and his family members have been seized by the Enforcement Directorate (ED) in a probe linked to alleged violation of the forex law, the agency said on Monday. "These properties have been seized as equivalent value of foreign securities or properties held by Bhosale and his family members in contravention of the Foreign Exchange Management Act (FEMA), 1999 which provides for seizure of equivalent value, situated in India, of foreign security or immovable properties held outside India," the agency said in a statement. The attached assets are in the form of equity shares and preference shares held in Classic City Investment Pvt Limited, Pune, which owns three luxury hotels in five-star category--Hotel Westin, Pune, Hotel Le Meridien in Nagpur and Hotel W Retreat & Spa located in Goa, it said. Equity shares held in ABIL (Avinash Bhosle Infrastructure ...

Sponsor investments in IFSC AIFs to come under the automatic route

RBI relaxation to allay round tripping concerns associated with sponsor commitment and shorten fund set-up time in IFSC

US President-elect Biden picks familiar faces for top roles at FEMA, CIA

Biden has tapped former CIA deputy director David Cohen to return to the agency in the same role he served during the Obama administration

Delhi HC issues notice to Future, RIL retail arms on Amazon's plea

The Court issued a notice in the matter and listed it for further hearing on February 12