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 Rs 225 crore in last three years, Lok Sabha was informed today.
Minister of State 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 Rs 225 crore penalty have been imposed. We are also taking action under the Prevention of Money Laundering Act,” he said during question hour.
The Minister said the ED conducts investigations under Prevention of Money Laundering Act in cases where one or more offences included in the schedule of PMLA are committed by any persons and entities.
These include cases involving predicate offence under Section 420 of IPC and under Prevention of Corruption Act.
Gangwar said in 2013, the Directorate of Revenue Intelligence had started investigation, wherein some containers were imported in the name of different firms/companies and before examination, goods contained in the said containers were stolen from Inland Container Depot, Tughlakabad, New Delhi.