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