Press Information Bureau

Government of India

Ministry of Finance

29-November-2012 17:58 IST

Enforcement Directorate of the Ministry of Finance has registered 1993 cases under the provisions of Foreign Exchange Management Act, 1999 (FEMA) in the last two years and property of 103 persons valued at Rs. 2406.28 lacs was seized, during investigation.

Similarly, Enforcement Directorate has registered 396 cases under the Prevention of Money Laundering Act, 20102 (PMLA) and during investigation property of 58 persons valued at Rs. 56965.32 lacs was attached in the same period.

In the interest of investigation under the provisions of FEMA/PMLA, the names/details of individuals can not be disclosed by the Enforcement Directorate.

This was stated by the Minister of State for Finance, Shri S.S. Palanimanickam in a written reply to a question in the Rajya Sabha today.

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DSM/RS/ka

Enforcement under FEMA and PMLA leads to property seizures and attachments during investigations, with identities withheld. Registration under the Foreign Exchange Management Act in the last two years comprised 1,993 cases with property of 103 persons seized during investigation; under the Prevention of Money Laundering Act 396 cases were registered and property of 58 persons was attached. Identifying details of individuals are withheld in the interest of ongoing investigations.