The government today said it has initiated proceedings against more than a dozen foreign nationals and companies for offences relating to purchase of property and transfer of funds.
"During the last three years, 15 show-cause notices have been issued by the Enforcement Director for contravention of the provisions of FEMA and Regulations made thereunder to persons/ companies in Goa," Finance Minister Pranab Mukherjee said in the Rajya Sabha.
"These noticees are either foreign nationals or companies in which foreign nationals are directors," Mukherjee said.
In one case, adjudication proceedings have been completed that resulted in imposition of penalty of Rs 2 lakh besides confiscation of property worth Rs 4 lakh, he said.
"Adjudication proceedings are continuing in respect of the remaining 14 cases," the Minister said.
Describing the nature of violations, he said the offences include acquisition and transfer of immovable property in India by persons resident outside India.
Transfer or issuance of shares of an Indian company in favour of a foreign national without receipt of consideration amount by way of inward remittances from abroad is another abuse, he said.
Further, bringing in of foreign exchange from abroad as FDI under automatic route by companies and utilisation of the same for a prohibited purpose is also a common offence in Goa, Mukherjee said.