Articles for Ed Foreign

ED raids offices of Flipkart and Amazon sellers across India due to alleged violations of foreign investment rules
1 month, 2 weeks ago

ED raids offices of Flipkart and Amazon sellers across India due to alleged violations of foreign investment rules

India Today  

India’s financial crime agency, the Enforcement Directorate, has conducted raids on sellers associated with Amazon and Walmart-owned Flipkart, targeting alleged violations of the country's foreign investment rules. This latest probe follows findings from India’s antitrust body, which concluded that both Amazon and Flipkart, along with some of their sellers, violated competition laws by favouring specific sellers. This investigation marks yet …

India Amazon Foreign Investment Sellers Flipkart Raids Offices
Telangana: ED Raids Charity Group That 'Diverted' Funds Meant for Meals, Education of Poor Students
5 months, 3 weeks ago

Telangana: ED Raids Charity Group That 'Diverted' Funds Meant for Meals, Education of Poor Students

News 18  

Searches against a Telangana-based charity group has found that about Rs 300 crore worth of foreign funds raised partly from domestic donations in the name of providing free education and meals to downtrodden children were diverted for “unauthorised” purposes, the Enforcement Directorate said on Tuesday. The money laundering case stems from a state police CID FIR that alleged that the …

Telangana Cid Group Funds
Niranjan Hiranandani, Dubai-based son Darshan summoned by ED. What's the case?
9 months, 4 weeks ago

Niranjan Hiranandani, Dubai-based son Darshan summoned by ED. What's the case?

Hindustan Times  

The Enforcement Directorate has summoned Niranjan Hiranandani and his Dubai-based son Darshan Hiranandani - the promoters of prominent Mumbai-based real estate developer Hiranandani Group, for questioning in a foreign exchange violation case on Monday. Founder & MD, Hiranandani Group Dr. Niranjan Hiranandani The summons came as the probe agency searched four premises linked to the Hiranandani Group and its group …

Fema Group Probe Hiranandani Niranjan Hiranandani Hiranandani Group
ED issues fresh look-out notice against Byju Raveendran
10 months ago

ED issues fresh look-out notice against Byju Raveendran

The Hindu  

The Enforcement Directorate has issued a fresh look-out notice against edutech entrepreneur Byju Raveendran in connection with the inquiry into alleged violation of the Foreign Exchange Management Act involving ₹9,362.35 crore. In November last year, the FEMA Adjudicating Authority had issued show cause notices to Think & Learn Private Limited, which runs education portal Byju’s, and Mr. Raveendran, based on …

Company Fema Foreign Fdi Raveendran
₹51cr FEMA fine on Amnesty India and ₹10cr on Aakar Patel: ED
2 years, 5 months ago

₹51cr FEMA fine on Amnesty India and ₹10cr on Aakar Patel: ED

Hindustan Times  

The Enforcement Directorate on Friday levied a penalty on Amnesty India International Private Limited and its former CEO Aakar Patel for alleged violations of the country’s foreign exchange law, the agency said in a statement. we will fight it and win in court.’’ The agency’s adjucating authority has ordered AIIPL to pay a penalty of ₹51.72 crore and Patel has …

India International Amnesty Foreign Patel Ngo Fcra
ED probed 17,000 cases under FEMA in 6 years
2 years, 7 months ago

ED probed 17,000 cases under FEMA in 6 years

Hindustan Times  

New Delhi: Last week’s move by the Enforcement Directorate against Chinese phone company Xiaomi, seizing ₹5521 crore held in the company’s bank accounts under the FEMA comes as the agency increases its scrutiny of violations of foreign exchange laws. Over 17,000 cases probed, 27,000 summons issued, 771 raids carried out by ED under FEMA in last six years ED initiated …

India Xiaomi Fema Fdi Ed Foreign
Court directs ED to expedite extradition of Sanjay Bhandari from UK
4 years, 2 months ago

Court directs ED to expedite extradition of Sanjay Bhandari from UK

India Today  

A designated court in Delhi has directed the Enforcement Directorate to expedite the extradition of arms dealer Sanjay Bhandari from the United Kingdom in connection with a money laundering case. The court also took cognizance of the chargesheet which was filed on June 1, 2020 against Sanjay Bhandari and other co-conspirators, including various companies floated by Sanjay Bhandari in the …

Court Bhandari Sanjay Sanjay Bhandari Ed Foreign