<p>Udupi: The Directorate of Enforcement (ED), Bengaluru Zonal Office, carried out a search and seizure operations under Foreign Exchange Management Act (FEMA) 1999, in the case of Mohammed Iqbal and others, covering three premises in the districts of Udupi and Shivamogga on June 19.</p><p>A release stated that during the search operations, various incriminating documents related to FEMA violations in the form of documents and other digital devices were found and seized.</p>.Former MP D K Suresh appears before ED in fraud case against woman.<p>During the investigation, it was found that Mohammed Iqbal, an NRI and Doha-based businessman engaged in the manpower service business, remitted funds to the tune of Rs 70 crore over the years from his five business entities located in Doha to his NRE/NRO accounts maintained in India. </p><p>Incriminating documents found and seized during the search action indicate that the said funds were subsequently utilised by him in violation of FEMA provisions, such as loans given to resident companies, investment in residents proprietorship concerns and firms indulged in real estate business, purchase of agricultural lands, and advances to various persons for purchasing lands for developing plots, and so on. </p><p>Further investigation is in progress, the release added.</p>
<p>Udupi: The Directorate of Enforcement (ED), Bengaluru Zonal Office, carried out a search and seizure operations under Foreign Exchange Management Act (FEMA) 1999, in the case of Mohammed Iqbal and others, covering three premises in the districts of Udupi and Shivamogga on June 19.</p><p>A release stated that during the search operations, various incriminating documents related to FEMA violations in the form of documents and other digital devices were found and seized.</p>.Former MP D K Suresh appears before ED in fraud case against woman.<p>During the investigation, it was found that Mohammed Iqbal, an NRI and Doha-based businessman engaged in the manpower service business, remitted funds to the tune of Rs 70 crore over the years from his five business entities located in Doha to his NRE/NRO accounts maintained in India. </p><p>Incriminating documents found and seized during the search action indicate that the said funds were subsequently utilised by him in violation of FEMA provisions, such as loans given to resident companies, investment in residents proprietorship concerns and firms indulged in real estate business, purchase of agricultural lands, and advances to various persons for purchasing lands for developing plots, and so on. </p><p>Further investigation is in progress, the release added.</p>