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ILLEGAL OUTWARD REMITTANCES
As rupee dips, I-T steps up vigil on shady outflowsIn multiple cases, individuals have used dozens of fake permanent account numbers (PANs) with the same name but different addresses and dat...- Buying property abroad? 7-point FEMA compliance checklist Indian investors must follow to avoid penaltiesIndian investors acquiring Dubai properties without proper outward remittances are facing Directorate of Enforcement scrutiny. Violations o...
- Don't turn your overseas property dream into a legal nightmareStructuring choices, missed disclosures, and documentation gaps can turn a global investment into a regulatory headache
- ED probes 234 cyber frauds, tracks crypto links to ChinaIn a sweeping crackdown, the Enforcement Directorate has launched an investigation into 234 cybercrime cases, ranging from illicit online b...
- Earn, save and spend in India — New Delhi’s friendly reminder to desi crorepatisIndia's wealthy are facing increased scrutiny on offshore wealth. Regulators are tightening rules on GIFT City AIFs, Dubai real estate inve...
- Delhi cyberfrauds siphoned Rs 4,900-cr cyber crime money abroad: EDThe Enforcement Directorate arrested two Delhi-based cyber criminals, Punit Kumar and Ashish Kakkar, for siphoning off over Rs 4,900 crore ...
- Surat-based SEZ entity on ED radar for 'illegal' forex remittances of over ₹4,000 crA Surat-based jewel firm, Sharnam Jewels Limited, is under investigation by the Enforcement Directorate for allegedly making illegal outwar...
- Forex remittances worth Rs 50,000 crore under ED scannerDelhi-based entity made illegal sale of cryptocurrencies, sent proceeds to Hong Kong and Canada. Bank officials too being probed for leakin...
- Illegal Loans: ED freezes Rs 123-cr of Singapore-based shell firms parked in bank accounts of Mumbai-based NIUM IndiaThe Directorate of Enforcement has frozen Rs 123 crore belonging to shell entities from Singapore in the bank accounts of NIUM Indian Pvt L...
- ED freezes over Rs 120-cr bank deposits in probe against Chinese-controlled gambling, loan appsThe searches were carried out on February 23-24 against a company named NIUM India Pvt Ltd and its directors based in Mumbai, Xoduz Solutio...
- ED issues show-cause notice to Xiaomi India top officials, 3 banksThe adjudicating authority under the Foreign Exchange Management Act has issued show-cause notices to Xiaomi Technology India Private Limit...
- India probes may adversely affect operating results or cash flows: XiaomiChinese smartphone maker Xiaomi on Friday said the ongoing investigations and allegations in India could take a long period of time to sett...
- Enforcement Directorate raids at Vivo, other firms 'chill investment confidence,' says ChinaAs the Enforcement Directorate (ED) continued searches at the premises of Chinese companies in a money laundering case, Wang Xiaojian, coun...
- ED arrests Delhi-based businessman in money-laundering caseDeepak Nayyar, a partner of Seabay International, was taken into custody on May 5 and produced before a special court dealing with cases lo...
- ED seizes Rs 131 cr funds of Chinese-owned NBFC for forex law violationThis case came under the ED radar during a separate money laundering probe against a number of NBFCs and FinTech companies which are linked...
- 'Nothing adverse' in overseas remittance data, says CBDT“The Directorate of Intelligence & Criminal Investigation (I&CI) of the income tax department during August and September 2019 obtained LRS...
- ED suspects diamond trade of laundering scrapped notesDummy companies have been used to route cash from one account to another against fake bills to convert the notes thus garnered.
- Illegal remittances racket operating through Bank of Baroda minted Rs 6,000 crore?It was also alleged that the amount remitted in each transaction would be kept at less than $100,000, CBI said.
- RBI to tap overseas regulators in BoB probe: Deputy governor SS MundraBetween May 2014 and August 2015, as many 5853 number of outward foreign remittances amounting to $ 546 mn were done.
- Multi-crore hawala scam accused Afroz Fatta files bail pleaThe ED had, on July 19, filed the charge sheet in which it alleged hawala scam to be to the tune of Rs 5,395 crore.
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