Foreign Exchange News

ED Issues Notice To Amnesty India, CEO Aakar Patel; Imposes Rs 61.72 Cr Penalty Under FEMA

ANI Feeds July 8, 2022 7:58 PM IST

"The show cause notice issued by ED had charged that during the period between November 2013 and June 2018, remittance which was received by AIIPL and claimed as a receipt for Business and Management Consultancy and Public Relation Services for export of services to the foreign beneficiary is nothing but the amount borrowed from overseas remitter, thereby violating the FEMA provisions," ED said in a statement

By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts Cookies Policy.