Goa warns people against FEMA violation

 The government on Tuesday said the Directorate of Enforcement, Mumbai, has ordered the confiscation of four properties of foreign nationals of non-Indian origin for violation RBI norms. The order was issued on August 11, 2010.

The government had set up a special committee under joint secretary (debt management) Anupam Kishore to investigate cases related to the acquisition of properties by foreigners.

“The committee examined all such cases and found contravention of FEMA in nearly 480 cases, which were forwarded to the Directorate of Enforcement for further action,” an official note said. It said show-cause notices had been issued in all the cases and the adjudication process had begun, with confiscation orders passes in four cases in August this year. The Directorate of Enforcement is expected to complete its investigation into the other cases soon.

Comments (+)