R225

ED issued 2,321 notices, cr fine in 3 years

The Enforcement Directorate has issued 2,321 show cause notices to different individuals and entities for various financial offences under the FEMA and imposed penalty of R225 crore in last three years, Lok Sabha was informed. MoS for finance Santosh Gangwar said ever since the NDA government came to power, a number of steps have been taken pro-actively that include significant decisions in the first cabinet meeting itself. "We have been taking action under Foreign Exchange Management Act. In the last three years, 2,321 show cause notices were issued and R225 crore penalty have been imposed," he said.