All posts tagged: FEMA Case

Karnataka HC asks Google to deposit 50% of penalty by ED in FEMA case | Latest News India

Karnataka HC asks Google to deposit 50% of penalty by ED in FEMA case | Latest News India

Published by Parlour News

The Karnataka high court has directed Google India and three of its senior executives to deposit 50% of the over ₹5 crore penalty imposed on them by the Enforcement Directorate (ED) for alleged violations under the Foreign Exchange Management Act (FEMA). ₹5 crore penalty imposed on them by the ED (File photo)” title=”The Karnataka high court has directed Google India and three of its senior executives to deposit 50% of the over ₹5 crore penalty imposed on them by the ED (File photo)” /> ₹5 crore penalty imposed on them by the ED (File photo)” title=”The Karnataka high court has directed Google India and three of its senior executives to deposit 50% of the over ₹5 crore penalty imposed on them by the ED (File photo)” />The Karnataka high court has directed Google India and three of its senior executives to deposit 50% of the over ₹5 crore penalty imposed on them by the ED (File photo) In an order passed last month, justices V Kameswar Rao and S Rachaia directed Google and its officials …

FEMA case against Flipkart founders: Madras HC dismisses cases filed by Sachin and Binny Bansal

FEMA case against Flipkart founders: Madras HC dismisses cases filed by Sachin and Binny Bansal

Published by Parlour News

The Madras High Court has dismissed a batch of writ petitions filed by popular e-commerce platform Flipkart’s founders Sachin Bansal and Binny Bansal and a few others in connection with an alleged violation of the Foreign Direct Investment (FDI) policy involving ₹23,451 crore. Justice S. Sounthar rejected all the writ petitions pending since 2021, with liberty to the petitioners to submit their explanations within 30 days from the receipt of his order to the show cause notices issued to them by the Special Director of the Directorate of Enforcement (ED) in Chennai. The judge agreed with Additional Solicitor General S.V. Raju and ED Special Public Prosecutor N. Ramesh that the petitioners ought not to have rushed to the High Court without submitting their explanation to the notices issued by the Special Director, who was the adjudicating authority under the Foreign Exchange Management Act (FEMA) of 1999. Making it clear that the petitioners would be entitled to raise all grounds in their defence before the adjudicating authority, the judge ordered that the officer concerned should consider …

ED summons former Kerala minister Thomas Isaac in KIIFB masala bonds case | Latest News India

Published by Webster

The Enforcement Directorate has summoned senior Kerala CPI(M) leader Thomas Isaac for questioning in a FEMA case linked to probe into the alleged violations in the financial dealings of KIIFB during his tenure as the finance minister in the previous LDF government, official sources said Sunday. Former Kerala finance minister Thomas Isaac(Ramesh Pathania/Mint) The 71-year-old politician has been asked to depose at the agency office in Kochi on January 12, they said. Wrap up the year gone by & gear up for 2024 with HT! Click here The central agency in December had informed the Kerala High Court that it has withdrawn the summons issued to Isaac. The submissions were made during hearing of a plea by Isaac and a KIIFB official alleging that only personal information was sought through the summons by ED and seeking quashing of the same. In view of the agency withdrawing the summons, the HC disposed of the petitions but at the same time, the court also said the ED was free to continue with its investigation in the matter. …

Probe Agency Summons Ex-Kerala Minister Thomas Isaac In Masala Bonds Case

Published by Webster

Thomas Isaac has been asked to depose at the agency office in Kochi on January 12. Kochi: The Enforcement Directorate has summoned senior Kerala CPI(M) leader Thomas Isaac for questioning in a FEMA case linked to probe into the alleged violations in the financial dealings of KIIFB during his tenure as the finance minister in the previous LDF government, official sources said Sunday. The 71-year-old politician has been asked to depose at the agency office in Kochi on January 12, they said. The central agency in December had informed the Kerala High Court that it has withdrawn the summons issued to Mr Isaac. The submissions were made during hearing of a plea by Mr Isaac and a KIIFB official alleging that only personal information was sought through the summons by ED and seeking quashing of the same. In view of the agency withdrawing the summons, the HC disposed of the petitions but at the same time, the court also said the ED was free to continue with its investigation in the matter. ED sources said …