The government also said as per database, there are 3,560 companies in India which have Chinese directors. However, the government mentioned that it was not possible to give the number of companies having Chinese investors or shareholders as the data is not separately maintained in the MCA system.

New Delhi [India], August 22 (ANI): Union Ministry of Finance said on Monday the government has notified overseas investment rules and regulations in a bid to further improve the country's standing in the ease of doing business.

New Delhi [India], January 27 (ANI): Enforcement Directorate (ED) has seized assets worth Rs 3.19 crores belonging to three personnel of 3K Technologies Limited, a Hyderabad firm for allegedly violating the Foreign Exchange Management Act (FEMA) Act, 1999.

Chennai Dec 27 PTI A Sharjah-bound passenger was arrested on Monday after the Customs detected US Dollars equivalent of Rs 115 crore concealed in his baggage The passenger was intercepted by the officers of the Air Intelligence Unit of the Chennai Customs based on specific inputs shared by the Directorate of Revenue Intelligence Bangalore an official release here said On examination of his checked-in baggage convertible foreign currency US Dollars equivalent to Rs 115 crore ingeniously concealed in check- in baggage was recovered and seized under the provisions of the Customs Act 1962 read with Foreign Exchange Management Act The passenger was arrested it said Further investigation was on PTI SA APR APR

New Delhi Dec 20 PTI Bollywood actor Aishwarya Rai Bachchan was questioned for about six hours on Monday by the Enforcement Directorate ED at its office in central Delhi in a case linked to the 2016 Panama Papers global tax leaks case official sources said The quizzing of the 48-year-old daughter-in-law of superstar Amitabh Bachchan and Samajwadi Party MP Jaya Bachchan comes weeks after her husband Abhishek Bachchan was questioned by the agency in another case emerging from the same set of papers linked to the offshore leaks case they said The ED recorded Aishwarya Rai Bachchans statement under the provisions of the Foreign Exchange Management Act FEMA The former Miss World left the agencys office located in Jam Nagar house here shortly after 7 PM Officials said she was questioned for about six hours The actor was ushered into a white car from the back door of the ED office even as a huge posse of media personnel tried in vain to get her comment The actor sources said has submitted some documents to the investigators with regard to the case Dubbed Panama Papers an investigation of a stockpile of records from Panamanian legal firm Mossack Fonseca by the Washington-based International Consortium of Investigative Journalists ICIJ in 2016 had named several world leaders and celebrities who allegedly stashed away money abroad in offshore companies Some of them are stated to be holding valid overseas accounts The leaked tranche had a total of 426 India-linked cases The ED has been probing the case linked to the Bachchans since 2016-17 It had issued notices to the Bachchan family asking them to explain their foreign remittances since 2004 under the Reserve Bank of Indias RBI Liberalised Remittance Scheme LRS and regulated under the Foreign Exchange Management Act FEMA Some documents were submitted by the Bachchans to the agency then Some other instances of alleged irregularities linked to the family are also under the scanner of the federal probe agency the sources said Aishwarya Rai Bachchan was stated by the ICIJ of having links with an offshore entity in the British Virgin Islands BVI that was created in 2005 Her family was also stated to be part of this offshore entity that had an initial authorised capital of USD 50000 The company was reportedly dissolved in 2008 Abhishek Bachchan has also been examined by the ED in the past in another instance linked to the offshore leaks case sources said The government had created a multi-agency group MAG of central investigative agencies under the chairman of the Central Board of Direct Taxes CBDT that also comprised officials from the ED Reserve Bank of India RBI and the Financial Intelligence Unit FIU to monitor probe into the Panama Papers and similar global tax leaks cases It had recently said that total undisclosed credits of Rs 20353 crore have been detected with respect to 930 India linked entities in the Panama and Paradise Paper Leaks as on October 1 2021 PTI NES SKL RT RT

New Delhi [India], December 3 (ANI): Enforcement Directorate on Friday has confiscated agricultural land measuring 4.26 acres worth Rs 1.76 Crore of an NRI who is a former director of M/s Laundry Spot Private Limited for contravening the provisions of the Foreign Exchange Management Act (FEMA).

New Delhi Nov 17 PTI The government on Wednesday extended the tenure of ED Director Sanjay Kumar Mishra by a year till November 18 2022 days after the Centre brought ordinances to allow ED and CBI directors to occupy the office for up to five yearsThe already extended tenure of Mishra a 1984-batch Indian Revenue Service IRS officer of the Income Tax Department cadre was to end on ThursdayThe order issued by the department of revenue under the Union finance ministry said the President of India is pleased to extend the tenure of Shri Sanjay Kumar Mishra IRS IT84006 as Director of Enforcement for a period of one year beyond 18112021 ie upto 18112022 or untill further orders whichever is earlier Mishra 61 was first appointed the ED director for a period of two years by an order on November 19 2018 Later by an order of November 13 2020 the appointment letter was modified retrospectively by the Central government and his term of two years was replaced by three yearsThis order of 2020 was challenged before the Supreme Court which allowed the governments move but the apex court said that no further extension in service can be given to MishraA bench headed by Justice L Nageswara Rao made it clear that extension of tenure of officers who have attained the age of superannuation should be done in rare and exceptional casesThe court had also made it clear that no further extension can be given to MishraThe top court said that a reasonable period of extension can be granted to facilitate the completion of cases of ongoing investigations only after recording the reasons by the committee constituted under Section 25 of the Central Vigilance Commission ActThe judgement that came on September 8 was issued on a plea filed by NGO Common Cause which had challenged retrospective change in the 2018 appointment order of Mishra as director of the EDHowever the government last Sunday brought out two ordinances that said that the tenure of the Directors of the ED and the Central Bureau of Investigation CBI can now be extended by up to three years after the mandated term of two years In both cases an extension of a year each for three years can be given to the directors after clearance by the committees constituted for their appointments the ordinances said The ED functions under the Union Finance Ministry and it enforces the criminal provisions of the Prevention of Money Laundering Act PMLAthe Fugitive Economic Offenders Act that was brought by the Modi government in 2018andthe civil sections of the Foreign Exchange Management Act FEMAPTI NES SKL TIR TIR