https://www.taxtmi.com/news?id=65113 The petition contests ED show cause notices under FEMA and RBI directions concerning KIIFB's use of 2019 Masala Bond proceeds for land acquisition, focusing on whether such acquisitions qualify as real estate activity under the ECB framework and thus violate permitted uses. The ED alleges FEMA contraventions of about Rs 466.91 crore; the court has issued an interim suspension of further proceedings on those notices and listed the matter for hearing alongside KIIFB's petition. en-us Thu, 18 Dec 2025 13:46:02 +0530 Thu, 18 Dec 2025 13:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=65113 The petition contests ED show cause notices under FEMA and RBI directions concerning KIIFB's use of 2019 Masala Bond proceeds for land acquisition, focusing on whether such acquisitions qualify as real estate activity under the ECB framework and thus violate permitted uses. The ED alleges FEMA contraventions of about Rs 466.91 crore; the court has issued an interim suspension of further proceedings on those notices and listed the matter for hearing alongside KIIFB's petition. News - Thu, 18 Dec 2025 13:46:02 +0530 https://www.taxtmi.com/news?id=65113