Foreign Exchange Management Act
ED attaches assets worth Rs 305.84 crore of Joyalukkas Pvt Ltd under FEMA
Directorate of Enforcement (ED) has attached assets worth Rs 305.84 crore of a private firm under section 37A of the Foreign Exchange Management Act, 1999 for violation of section 4 of the Act.
 "ED attaches assets worth Rs 305.84 crore of Joyalukkas Pvt Ltd under FEMA")
NRIs can repatriate funds from sale of two houses, say experts
For property bought as resident or inherited, up to $1 mn can be sent each year
 "NRIs can repatriate funds from sale of two houses, say experts")
Rupee trade with few nations may start, internationalisation will take time
Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board
 "Rupee trade with few nations may start, internationalisation will take time")
Xiaomi rejects speculation over India operations being moved to Pakistan
Rumours started with a portal's tweet that the Chinese cellphone manufacturer may shift its operations from India to Pakistan after its assets worth $676 million were seized
 "Xiaomi rejects speculation over India operations being moved to Pakistan")
Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI
The central bank has been selling dollars in the foreign exchange market aggressively to curb any sharp fall in the rupee, which is one of the main reasons for the reserves to fall
 "Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI")
ED now raids CoinSwitch Kuber, firm says engaging with all stakeholders
The Enforcement Directorate (ED) on Thursday searched the premises of leading crypto exchange CoinSwitch Kuber for alleged Foreign Exchange Management Act (FEMA) violations
 "ED now raids CoinSwitch Kuber, firm says engaging with all stakeholders")
Nearly half of investigations under FEMA were pending till 2021-22
Issuance of show cause notices as a proportion of investigations has declined in 2018-19
 "Nearly half of investigations under FEMA were pending till 2021-22")
Sebi board may clear decks for FPI entry into commodity derivatives segment
The long-awaited move is aimed at boosting liquidity and efficiency at domestic commodity bourses, even as concerns remain if this would make markets more volatile
 "Sebi board may clear decks for FPI entry into commodity derivatives segment")
Karnataka HC extends stay on ED order seizing Xiaomi India assets
The ED froze Xiaomi's accounts on April 29 alleging that it has violated the Foreign Exchange Management Act by illegally transferring money abroad to three companies under guise of royalty payments
 "Karnataka HC extends stay on ED order seizing Xiaomi India assets")
SME Chatroom: Purpose of shipping mark to enable package to be identified
If an LC specifies the details of a shipping mark, the documents mentioning the marks should show these details; additional information is acceptable provided it is not in conflict with the LC terms
 "SME Chatroom: Purpose of shipping mark to enable package to be identified")
Top headlines: Infosys Q4 net rises 12%; PV sales dip nearly 4% in March
Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period
 "Top headlines: Infosys Q4 net rises 12%; PV sales dip nearly 4% in March")
ED summons Xiaomi global vice-president Manu Kumar Jain in forex case
It's learnt that ED had initiated its discreet inquiry in February under the Foreign Exchange Management Act (FEMA) and found evidence of remittances involving a significant amount
 "ED summons Xiaomi global vice-president Manu Kumar Jain in forex case")
RBI tweaks FEMA regulations, gives wings to recycling of aircraft
Till now, export of planes in knocked-down condition was not allowed
 "RBI tweaks FEMA regulations, gives wings to recycling of aircraft")
Showing declared value on 'Bill of Lading' not mandatory, says expert
Rule 3 of the Rules Relating to the Bill of Lading (BL) set out in the Schedule to the Carriage of Goods by Sea Act, 1925, does not mandate that the value of the goods should be mentioned in the bill
 "Showing declared value on 'Bill of Lading' not mandatory, says expert")
AIF investments in Mauritius, Singapore and Honk Kong under Sebi lens
Regulator rejects overseas investments proposals of funds that fail to meet set parameters
 "AIF investments in Mauritius, Singapore and Honk Kong under Sebi lens")
Government tightens rights issue pricing norms for non-resident Indians
Experts said the notification provides much-needed clarity on the "acquisition after renunciation of rights" by NRIs
 "Government tightens rights issue pricing norms for non-resident Indians")
No hostile takeover of Indian firms: New FDI guidelines come into effect
The updated FEMA Rules came into effect from Thursday midnight
 "No hostile takeover of Indian firms: New FDI guidelines come into effect")
Finance ministry exempts mutual funds from foreign-investor status
Govt has modified circular that classified MFs as investment vehicles
 "Finance ministry exempts mutual funds from foreign-investor status")
EC Lavasa's son, a firm linked to him are under ED lens for Fema violations
They said the agency has filed a case under the FEMA to probe Abir Lavasa and about Rs 7.25 crore funds raised early this year by a firm -- Nourish Organic Foods Pvt Ltd -- linked to him
Amnesty International refutes ED charge of Rs 51 cr forex law violation
Official sources had last week said that the notice was issued after completion of probe
 "Amnesty International refutes ED charge of Rs 51 cr forex law violation")
