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FEMA Violations. |
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| 2-9-2011 | |||||||||||||||||||||||
Press Information Bureau 02-September-2011 18:06 IST FEMA Violations The Foreign Exchange Management Act, 1999 is a civil act in nature as such there is no provision for launching the prosecutions. During the last three years i.e. 2009-10,2010-11 and 2011-12 (upto July 2011) , the Directorate of Enforcement has issued 990 Show Cause Notices to various persons/firms under Foreign Exchange Management Act,1999 (FEMA), for initiating the adjudication proceedings. The Zone-wise details of the Show Cause Notices issued during the last three years is as under: -
This information was given by the Minister of State for Finance, Shri S.S.Palanimanickam in written reply to an Unstarred Question in Lok Sabha today. DSM/ PM |
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