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Owning overseas real estate, whether in Dubai, London or Singapore, has become an increasingly popular aspiration among Indian investors. But recent enforcement action has highlighted that foreign property purchases can invite regulatory scrutiny if Foreign Exchange Management Act (FEMA) rules are not followed carefully.Earlier this month, the Directorate of Enforcement conducted searches under FEMA, 1999…
NEW DELHI: The protection enjoyed by a woman under Code of Criminal Procedure (CrPC) is not available in proceedings related to Foreign Exchange Management Act (Fema), which is governed by civil law, Delhi high court has ruled.Justice Neena Bansal Krishna dismissed a writ petition filed by a 53-year-old Canadian citizen challenging ED summons issued under…
Anil Ambani is the Reliance Group chairman. Anil Ambani has responded to the Enforcement Directorate‘s summons by requesting to appear via “virtual means” for the Friday meeting. Anil Ambani is the Reliance Group chairman.The 66-year-old business leader’s spokesperson released a statement indicating that Ambani has written to the agency, pledging “full cooperation” in the ongoing…
NEW DELHI: The Enforcement Directorate (ED) is learnt to have offered the option of closing a Fema violation case against Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said. The option was given by ED to Flipkart last week under the compounding rules of Fema…
Enforcement Directorate raids targeted Malayalam actors Dulquer Salmaan and Prithviraj Sukumaran in a major Bhutan car smuggling case. Searches spanned multiple locations, including residences and car dealerships, investigating illegal luxury car imports via forged documents. The probe also involves FEMA violations and suspected hawala transactions, with Mammootty’s Chennai property also reportedly searched. The Enforcement Directorate…
NEW DELHI: Enforcement Directorate on Tuesday searched six premises in connection with a case of money laundering against Anil Ambani and R-ADAG entities.Sources said the searches were a part of the investigation into overseas remittances by Reliance Infrastructure, allegedly in violation of certain regulations of Foreign Exchange Management Act (Fema).In a statement, Reliance Infrastructure said…
