https://www.taxtmi.com/acts?id=19712 New sub-sections to section 13 impose enhanced monetary penalties up to a multiple of the sum involved and permit confiscation of equivalent value in India for acquisition of foreign exchange, foreign securities or immovable property abroad beyond the threshold in the proviso to section 37A(1). The Adjudicating Authority may recommend prosecution and the Director of Enforcement may direct prosecution by an officer not below Assistant Director; a separate criminal offence attracting imprisonment and fine is added and cognizance is permitted only on written complaint by such an officer. en-us Wed, 13 May 2015 11:47:03 +0530 Wed, 13 May 2015 11:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19712 New sub-sections to section 13 impose enhanced monetary penalties up to a multiple of the sum involved and permit confiscation of equivalent value in India for acquisition of foreign exchange, foreign securities or immovable property abroad beyond the threshold in the proviso to section 37A(1). The Adjudicating Authority may recommend prosecution and the Director of Enforcement may direct prosecution by an officer not below Assistant Director; a separate criminal offence attracting imprisonment and fine is added and cognizance is permitted only on written complaint by such an officer. Act-Rules F. Acts / Amendment Acts Wed, 13 May 2015 11:47:03 +0530 https://www.taxtmi.com/acts?id=19712