foreign exchange management act news
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Karnataka HC asks Google to deposit 50% of penalty by ED in FEMA case
Last month, justices V Kameswar Rao and S Rachaia ordered Google and its officials to submit a bank guarantee while allowing an ED petition.
Updated on Apr 16, 2025 04:49 AM IST
Ayesha Arvind, Bengaluru
HC directs Google India to provide 50% of forex penalty in bank guarantees
The case pertains to alleged violations of section 6(3)(d) of FEMA, involving transactions worth ₹364 crore.
Published on Apr 15, 2025 12:46 PM IST
PTI | | Posted by Anagha Deshpande
L2: Empuraan producer's offices searched by ED in alleged FEMA violation case
The businessman's offices in Kerala and Tamil Nadu were inspected, soon after the film “L2: Empuraan” sparked a political row.
Updated on Apr 04, 2025 12:11 PM IST
FEMA Case: ED seizes ₹22-cr worth of immovable assets of Rana Sugars
The Enforcement Directorate has seized immovable properties worth ₹ 22.02 crore of Rana Sugars Limited under section 37A of the Foreign Exchange Management Act (FEMA), 1999, for holding foreign exchange outside India.
Published on Apr 04, 2025 09:22 AM IST
HT Correspondent, Jalandhar
Paytm, 2 subsidiaries receive notice for FEMA violations worth ₹611 crore
Paytm-parent One 97 Communications revealed information about the show-cause notices via a disclosure to the exchanges.
Updated on Mar 02, 2025 10:48 AM IST
Ashley Paul
ED fines BBC India for ₹3.44 crore over FEMA violation
The agency has also fined the directors of BBC – Giles Anthony Hunt, Indu Shekhar Sinha and Paul Michael.
Updated on Feb 21, 2025 10:39 PM IST
ED seizes 4.6cr forex in FEMA probe
The ED seized ₹4.6 crore in foreign currencies from five locations in Mumbai, investigating illegal forex activities by multiple money changers.
Updated on Nov 09, 2024 06:24 AM IST
‘Goldmine’ advice for Indian founders willing to incorporate in US
Advice for Indian founders in US based on the collective experience of hundreds of YC India startups
Updated on Sep 13, 2024 10:09 AM IST
India's forex reserves drop by $4.8 billion to $670.11 billion
India's forex reserves fell by $4.8 billion to $670.119 billion for the week ended on August 9
Published on Aug 16, 2024 07:23 PM IST
PTI |
Delhi HC quashes summon of Hero Motocorp chairman Pawan Munjal in forex DRI case
The DRI had filed a complaint in 2022 for "carrying, attempting to export and illicit export of prohibited items, that is, foreign currency" against Munjal
Published on Jul 24, 2024 12:09 PM IST
PTI |
Rupee's stability & cost makes it attractive for carry trade, Bank of America
The Indian rupee is stable and inexpensive compared to its emerging market peers
Published on Jun 10, 2024 05:00 PM IST
HT News Desk | Edited by Abhyjith K. Ashokan
It’s going to be an amicable divorce for Dhanush and Aishwaryaa: Source
We have heard that the legal process for Dhanush and Aishwaryaa Rajinikanth will be an amicable one, with primary custody of sons expected to go to Aishwaryaa
Updated on Apr 10, 2024 12:40 PM IST
Akshay Oberoi enjoys the ‘reckless freedom’ that grey roles provide
Akshay Oberoi talks about working on negative roles in his career
Updated on Apr 09, 2024 03:57 PM IST
TMC's Mahua Moitra, businessman Darshan Hiranandani get fresh ED summons
The ED has issued fresh summons to Mahua Moitra and Darshan Hiranandani for questioning in a FEMA contravention case on March 28.
Updated on Mar 27, 2024 04:49 PM IST
ED issues fresh summons to Mahua Moitra as she fails to appear in FEMA case
Officials familiar with the matter said ED has registered a case under FEMA against Mahua Moitra as it has information about certain foreign transactions including undisclosed ones
Updated on Feb 19, 2024 08:10 PM IST
Enforcement Directorate seeks Qatar Airways’ foreign transaction info
It wasn’t clear whether the issue is linked to alleged tax evasion by Qatar Airways, in which DGGI last month conducted searches at offices of foreign carriers
Updated on Nov 14, 2023 01:49 PM IST
Ashok Gehlot's son Vaibhav appears before ED in foreign exchange violation case
The son of Rajasthan CM was summoned for being allegedly violating the foreign exchange rules.
Published on Oct 30, 2023 12:50 PM IST
ED arrests 5 people in Kerala for hawala dealings worth ₹300 crore
ED said that these people were involved in high-volume international hawala operations, running into more than ₹300 crore over the last several years
Updated on Sep 05, 2023 09:32 PM IST
ED seizes late Anil Salgaocar’s shares over foreign exchange law violations
ED said it initiated an investigation against Salgaocar on the basis of Panama Paper and Pandora Paper leaks that alleged Salgaocar incorporated multiple British Virgin Islands companies
Updated on Aug 10, 2023 08:35 AM IST
Anil, Tina Ambani quizzed by ED in foreign exchange violation case. What is it?
Tina Ambani was questioned by the Enforcement Directorate in Mumbai in connection with an alleged contravention of FEMA laws.
Published on Jul 04, 2023 12:50 PM IST
After Anil Ambani, wife Tina Ambani appears before ED in Mumbai
Tina Ambani appeared before the Enforcement Directorate in Mumbai in connection with an investigation into the alleged contravention of foreign exchange law.
Updated on Jul 04, 2023 10:58 AM IST
ED searches in FEMA violations by online gaming companies; ₹4,000 crore traced
ED has found that companies registered in small island countries were collecting funds from India and routed it out of the country in the name of import of services or goods
Updated on May 24, 2023 08:41 PM IST
Ashneer Grover slams 20% TCS on credit card usage outside India
Ashneer Grover took a jibe at the government's new rule that implemented a higher 20% rate of Tax Collected at Source (TCS) on international credit cards.
Published on May 18, 2023 09:14 PM IST
Credit card spends outside India will attract 20% TCS: How users may be impacted
Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS).
Updated on May 18, 2023 06:11 PM IST
ED begins probe against BBC over ‘FDI law breach’
The officials said that a few executives including a deputy managing editor of the BBC have already been called to the ED office in past two weeks.
Updated on Apr 13, 2023 11:09 PM IST
HT Correspondent, New Delhi
India's foreign reserves drops by $1.09 bn to stand at $529.99 bn: RBI
Foreign currency assets (FCA), a major component of the overall reserves, decreased by USD 120 million to USD 470.727 billion during the week to November 4.
Published on Nov 11, 2022 07:51 PM IST
PTI | | Posted by Yagya Sharma
Draft norms soon for overseas listing of Indian companies
Currently, a company incorporated in India can list on a foreign stock exchange only after it is listed in India. MakeMyTrip, which is listed on Nasdaq, had to incorporate itself in Mauritius to facilitate overseas listing without going public in India.
Updated on Sep 09, 2020 03:46 AM IST
Livemint, Mumbai | Jayshree P Upadhyay
ED books Jet Airways’ Naresh Goyal, his wife in alleged money laundering case
Naresh Goyal was earlier probed by ED under the Foreign Exchange Management Act (FEMA) for alleged violations of foreign direct investment (FDI) norms.
Updated on Mar 05, 2020 07:40 AM IST
Hindustan Times, Mumbai | HT Correspondent
Illegal foreign holdings under ED scanner for FEMA violations
On January 17, the ED conducted searches at premises linked to former chief engineer of the Brihanmumbai Municipal Corporation (BMC) and recovered incriminating documents of a property based in Dubai. The agency has not disclosed the name of the former BMC officer as investigations are underway.
Updated on Feb 01, 2020 05:51 PM IST
Hindustan Times, Mumbai | Pratik Salunke
Edelweiss Group chairman Rashesh Shah appears before ED in forex scam case
The ED is probing a firm named Capstone for forex violations. Edelweiss has denied any link to Capstone.
Updated on Jan 15, 2020 06:43 PM IST
Hindustan Times, Mumbai | Pratik Salunke
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