The federal agency had initiated an investigation under FEMA on the basis of information that Amnesty International, UK had been remitting huge amounts of foreign contributions through its Indian entities (non-FCRA companies) following the FDI route
Traders' body CAIT alleges FDI, GST norms violated by Metro Cash & Carry, German retailer refutes allegations
CAIT said that as per reports, Metro Germany is looking to sell the India business and make profits of over Rs 10,000 crore on its investment in the country
The ED froze Xiaomi's accounts on 29 April alleging that it has violated the FEMA by illegally transferring money abroad to three companies under the guise of royalty payments
Karnataka HC allows Xiaomi access to bank overdrafts to make payments, extends stay on ED seizure order
A single-judge bench of Justice S Sunil Dutt Yadav issued the order after Xiaomi India approached the court on Thursday for clarification of its order given on 5 May
ED on 29 April passed an order to seize the Chinese firm's funds worth over Rs 5,551 crore over alleged violation of the Foreign Exchange Management Act of FEMA
Xiaomi is accused by the ED of violating Section 4 of the FEMA Act by transferring money in the name of 'Technology Royalty' to three companies outside India
The company has remitted foreign currency equivalent to Rs 5551.27 crore to three foreign-based entities which include one Xiaomi group entity in the guise of royalty, the agency said
Private cryptocurrencies like Bitcoin, which are unregulated, mined through a complex process and have highly volatile prices, are under the regulatory gaze in India despite their proliferation as an asset class
This is the second time Yami Gautam has been summoned by the ED as she could not depose the first time. The summon, however, is not linked to a case of money laundering.
The Delhi HC says that the company's attempt to control Future Retail through a series of agreements is a violation of the FDI laws.
Donald Trump issues two-week emergency declaration in Washington DC ahead of Joe Biden's inauguration
The order, which will remain in effect till 24 January, comes after the FBI warned of armed protests at all 50 US state Capitols in the lead up to Joe Biden's inauguration
Chad Wolf steps down as acting secretary of homeland security; FEMA administrator Peter Gaynor to take over
Wolf's resignation came less than a week after he pledged to remain in office and just 10 days before the inauguration of President-elect Joe Biden
The Centre has taken cognisance of various complaints made by the Confederation of All India Traders (CAIT) for blatant violation of FDI Policy and Foreign Exchange Management Act, 1999 (FEMA) by these companies
FinMin notifies changes in FDI policy; prior govt approval must for investments from countries sharing land borders
The Finance Ministry on Wednesday notified changes in FDI rules, which made prior approval of the government mandatory for foreign investments from countries that share border with India, to prevent the opportunistic takeover of domestic firms amid COVID-19 pandemic under the FEMA law
Jet Airways founder Naresh Goyal booked in money-laundering case; residence raided, statement recorded
Last year, the ED had registered an offence against Goyal and his wife in connection with FEMA (Foreign Exchange Manipulation Act) violations.
Row over Padma Shri to Adnan Sami: Months before honour, tribunal had quashed order to confiscate musician's Mumbai flats
As recently as September 2019, Sami got a reprieve of sorts from authorities, as the Appellate Tribunal for the Foreign Exchange Management Act (FEMA) quashed an order to confiscate eight flats that he bought in Mumbai.
Air Asia PMLA case: ED issues fresh summons to CEO Tony Fernandes, senior executives for questioning next month
The Enforcement Directorate (ED) has issued fresh summons to senior executives of Air Asia airlines, including CEO Tony Fernandes, for questioning next month in connection with a money laundering case, officials said on Friday
The allegation pertains to Air Asia officials and others allegedly trying to manipulate government policies through corrupt means to get international licence for its Indian venture Air Asia India Limited.
On 23 July last year, the Supreme Court had cracked its whip on errant builders for breaching the trust of homebuyers, ordered cancellation of Amrapali Group’s registration under real estate law RERA and ousted it from its prime properties in the NCR by nixing the land leases.
Edelweiss chairman denies dealings with Capstone, FEMA violations charge; says company will cooperate with investigation
The company will take appropriate legal action against the concerned media group in order to protect and reinforce the reputation of Edelweiss, he added.