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foreign exchange violations

13 Apr 2023

ED Files Case Against BBC For Foreign Exchange Violations

The moves comes in the backdrop of the Income-Tax department surveying BBC office premises in Delhi in February.

13 Apr 2022

Enforcement Directorate summons former Xiaomi India head Manu Kumar Jain

ED is investigating the company and its executives under the provisions of the FEMA. Proceedings under the FEMA are civil in nature. Jain is now the global vice president of Xiaomi.

12 Jun 2021

WazirX, its directors gets show cause notice for Rs 2,790 crore transactions

This investigation has been initiated by Foreign Exchange Management Act (FEMA) on the basis of the ongoing money-laundering probe. The ED official claimed that WazirX does not collect the requisite documents. He said that none of these transactions are available on the blockchain for any audit or investigation.

11 Jun 2021

ED issues notice to WazirX and its directors for crypto transactions

WazirX allows a wide range of cryptocurrency transactions. It does not collect the requisite documents in clear violation of Anti Money Laundering guidelines. Users of WazirX via its pool account have received incoming cryptocurrency worth Rs 880 crore from Binance accounts.

Directorate of Enforcement

11 Jul 2020

ED raids tour, travel companies in Delhi, Ghaziabad, seizes Rs 3.57 crores

Further investigation, in this case, is under progress.

IndiGo airlines

20 Jun 2018

IndiGo denies reports of ED summons; m-cap falls Rs 3,536 crore

Shares of the company tanked 7.49 percent to settle at Rs 1,136.15 on BSE.

Foreign investment limits

05 Apr 2018

New system for monitoring foreign investment limits in listed Indian companies

Foreign Investment in India is regulated in terms the Foreign Exchange Management Act (FEMA).

17 Dec 2016

Demonetisation: ED probes 4 bullion traders for Rs 69 crore cash deposits

The ED has conducted searches against four bullion traders in Mumbai and has detected Rs 69 crore worth transactions in cash done by them allegedly using fake companies.

Amarinder Singh

06 Jun 2016

Capt Amarinder slams Jaitley for 'fraud notice' against his son

Former Punjab chief minister Captain Amarinder Singh on Monday dubbed the Enforcement Directorate summon issued against his son Raninder Singh for alleged violation of the Foreign Exchange Management Act (FEMA) as 'fraud notice' and said Union Finance Minister Arun Jaitley can't get over his defeat in the 2014 general election.

16 Mar 2016

Freedom 251: ED probing Ringing Bells for alleged FEMA violation

The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs 251, for alleged contravention of FEMA.

02 Feb 2016

RBI plays ball with govt, to simplify rules for start-ups

Rajan cited the difficulties faced by entrepreneurs, starting right from the complicated contracts for fund raising, which are not allowed under the Foreign Exchange Management Act.

Enforcement Directorate

12 Nov 2015

IPL FEMA probe: ED records Shah Rukh Khan statement; final notice soon

Khan is being probed on a specific charge of irregularities in the sale of shares of Knight Riders Sports Pvt Ltd.

Enforcement Directorate

01 Nov 2015

ED to issue final notices in dozen IPL cases involving Lalit Modi

The agency is also expected to request the Home and External Affairs ministries to press for Modi's extradition.

30 Sep 2015

No FEMA action for disclosure under black money window: RBI

RBI Wednesday said no action under FEMA will be taken against declarations under one-time black money compliance window, which ends today.

29 Sep 2015

ED registers FEMA case in Kolkata hawala raid haul

ED has registered a case to probe alleged hawala operations behind the over Rs 45 crore cash which was seized in Kolkata as part of a crackdown against lottery operatives channelling illegal funds for the Dawood Ibrahim gang.

24 Sep 2015

No action under FEMA against black money declarants: RBI

In a bid to encourage disclosure of undeclared assets held abroad, the Reserve Bank of India Thursday said no action under FEMA will be taken against declarations under one-time compliance window ending on Wednesday.

23 Feb 2015

Budget 2015-16: FM may announce policy plans to combat black money

Finance Minister Arun Jaitley is likely to announce policy initiatives on some of the key recommendations made by the Special Investigation Team (SIT) on black money to combat the menace of illicit funds, stashed within the country and overseas, when he presents the Budget on February 28.

Enforcement Directorate

13 Nov 2014

ED to issue notice to Pakistan International Airlines for purchasing immovable property in Delhi

As per FEMA guidline, citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan cannot acquire or transfer immovable property in India.

19 Jun 2014

Residents, non-residents allowed to carry up to Rs 25k abroad

The Reserve Bank on Thursday permitted residents and non-residents, except Pakistanis and Bangladeshis, to carry up to Rs 25,000 in Indian currency notes while leaving the country.

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