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Home News News and Press Release Month 7 2014 2014 (7) This

Cases Registered Under FEMA

18-7-2014
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The number of investigation cases registered under the Foreign Exchange Management Act (FEMA), 1999 during the last three Financial Years are as follows:

Financial Year

2011-12

2012-13

2013-14

Cases Registered

1170

1622

1041

On completion of investigations under FEMA, in case of any violations are noticed, Show Cause Notices are issued to the entities concerned which are adjudicated by the appropriate Adjudicating Authority as per the assigned monetary limits. There is no provision under FEMA to launch prosecution proceedings for any violations and hence there is no question of conviction.

This information was given by the Union Minister of Finance, Shri Arun Jaitley in written reply to a question in Lok Sabha today.

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