New Delhi, Feb 4 (IANS) The Directorate of Enforcement’s (ED) Delhi office has conducted searches under the provisions of the Foreign Exchange Management Act (FEMA) at multiple premises in the national capital following intelligence inputs that certain high net worth individuals (HNIs), who are resident in India, had made overseas investments — primarily in Dubai — through funds allegedly routed via hawala channels, an official statement said on Wednesday.According to the ED, the searches led …
Latest Foreign Exchange Management Act News & Updates
New Delhi, Feb 1 (IANS) The government on Sunday said Indians living abroad can now invest in stocks through the Portfolio Investment Scheme (PIS).Other measures for non-resident investment announced in Budget 2026 including raising the individual investment limit for Persons Resident Outside India (PROIs) from 5 per cent to 10 per cent, increasing the overall investment limit for all PROIs from 10 per cent to 24 per cent, and allowing residents living abroad to invest in Indian equities via a p…
New Delhi, Feb 1 (IANS) In her Union Budget speech for 2026-27, Finance Minister Nirmala Sitharaman outlined several forward-looking proposals in the financial sector, aimed at strengthening India’s banking system and enhancing ease of doing business as the country progresses towards the goal of Viksit Bharat. A major announcement was the proposal to establish a high-level committee on Banking for Viksit Bharat. This panel will conduct a comprehensive review of the entire banking sector, includi…
Bengaluru, Jan 21 (IANS) The Karnataka High Court on Wednesday granted relief to the Indian retail cafe chain Cafe Coffee Day (CCD) in connection with the case lodged by the Enforcement Directorate (ED) under the provisions of the Foreign Exchange Management Act, 1999 (FEMA).The CCD had challenged the proceedings under FEMA in court.The Bench, headed by Justice B.M. Shyam Prasad, passed the order in this regard.The court has directed the ED to postpone the personal hearing of the representatives…
New Delhi, Jan 12 (IANS) The Reserve Bank of India (RBI) has issued a compounding order under Section 15 of the Foreign Exchange Management Act (FEMA), in the case of Elsteel Modular India Private Limited, which has resulted in termination of proceedings against the company for alleged contraventions of the law, according to a statement issued by the Enforcement Directorate (ED) on Monday.The order was passed by the RBI on December 12, 2025 after the Directorate of Enforcement (ED) issued a “No …
New Delhi, Jan 9 (IANS) The Reserve Bank of India (RBI) has issued a compounding order on December 12, 2025, under section 15 of the Foreign Exchange Management Act (FEMA), 1999, in the case of Kakinada Seaports Limited, which has resulted in the termination of the proceedings against the company for alleged contraventions of provisions of FEMA, according to an Enforcement Directorate (ED) statement on Friday.The order was passed by the RBl after issuance of a “no objection” certificate by the E…