Responding to summons, the advocates of suspended IAS official Arvind Joshi appeared before Enforcement Directorate here on Wednesday and sought time to place their client's stand in connection with Foreign Exchange Management Act (FEMA) violation. Refusing to give them a long period, the Directorate has asked them to submit explanation/ reply by September 28.
On September 7, 2012, Enforcement Directorate had summoned Joshi for violation of FEMA. Foreign currency worth Rs 7.50 lakh was found in his possession by income tax department, which carried out search at his residence in Bhopal and other places in January, 2010.
Though income tax department searches had covered the assets of Arvind Joshi and his suspended IAS wife Tinu Joshi, Enforcement Directorate (ED) has registered case against Arvind Joshi in FEMA violation case. The prosecution against Joshi for FEMA violation was hanging fire for two years as the adjudicating powers of ED officials with regard to FEMA violation were under review in New Delhi.
Two months ago, union government granted powers to ED assistant directors to prosecute people involved in FEMA violation.
During the search, income tax department had found assets worth Rs 300 crore belonging to the couple that included jewellery, cash, lands and buildings.
The income tax department undertook the search after its apex body, the Central Board of Direct Taxes, came across evidence that a large amount of money was being deposited into the couple's bank accounts, which was disproportionate to their known sources of income. The Financial Intelligence Unit, which comes under union finance ministry, had passed on this information to the Board.
{{/usCountry}}The income tax department undertook the search after its apex body, the Central Board of Direct Taxes, came across evidence that a large amount of money was being deposited into the couple's bank accounts, which was disproportionate to their known sources of income. The Financial Intelligence Unit, which comes under union finance ministry, had passed on this information to the Board.
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