Directorate of Enforcement issues Show Cause Notices for Alleged Contravention of Foreign Excahnge Management Act (FEMA), 1999 .

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Directorate of Enforcement issues Show Cause Notices for Alleged Contravention of Foreign Excahnge Management Act (FEMA), 1999 . - News and Press Release Dated:- 8-8-2012 - News - Press Information Bureau Government of India Ministry of Finance 08-August-2012 18:19 IST Directorate of Enforcement issues Show Cause Notices for Alleged Contravention of Foreign Excahnge Management Act ( .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... FEMA), 1999 The Directorate of Enforcement has issued Show Cause Notice for alleged contravention of Foreign Exchange Management Act, 1999 (FEMA) and the cases of prima-facie, offence of money laundering registered under Prevention of Money Laundering Act, 2002 (PMLA) against Private Companies/MNCs in the last two years are as under:- Years FEMA PMLA 2010-11 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 34 31 2011-12 37 23 Since the allegation of contraventions of FEMA/PMLA are required to be adjudged by the competent authorities under these enactments, it will not be appropriate to give the details of the companies at this stage. In addition to action taken by Directorate of Enforcement for violations of FEMA, 1999, RBI entertains ap .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... plications from person (resident non-resident) who seeks compounding of an admitted contravention of FEMA for procedural violation except violations under Section 3(a) of the Act. Details of companies/MNCs which have applied for compounding of contraventions under FEMA are as under: Period No. of Applications July, 1,2010-June 30, 2011 581 July 1,2011- .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... June 30, 2012 47 Penalties prescribed in Law are not indexed to price rise. This information was given by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in Lok Sabha today. * * * DSM/RS/Hb - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... m - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X