Enforcement Directorate
A Special Investigation Team (SIT) was formed on Tuesday May 27 to black money, money sitting in foreign banks and money laundering issues. This historic decision was taken on the very first meet of the cabinet ministers lead by Shri Narendra Modi. Addressing a press conference, Law and Telecom Minister Ravi Shankar Prasad mentioned that the SIT [...] Continue Reading »
Special director of the Enforcement Directorate Balesh Kumar said, the real estate sector in India has the maximum scope for money laundering activities and there should be some sort of regulatory mechanism to keep a check on such activities, recently. Kumar said during a workshop on money laundering hosted by BRICS Chamber of Commerce & [...] Continue Reading »
The urban development ministry is proposing for an important change in the foreign direct investment (FDI) policy for construction sector, which will permit foreign investors to purchase farm land in India. There has been a proposal to relax the FDI rules for construction and housing by the Department of Industrial Policy and Promotion (DIPP). It has suggested that a company owned and [...] Continue Reading »
The joint venture real estate company of Dubai’s Emaar Properties and India’s own MGF Group is seriously considering the idea of what it calls an “iconic” building in India. The venture has since its launch in the country in 2005, remained focused on high-end residential and commercial properties (in the ratio of 9:1). The development activities of [...] Continue Reading »
CBI is presently concentrating on ‘benami‘ owners of flats and it claimed that a senior politician had involved in those transactions. According to sources, an intense investigation has been carried on by CBI with regard to the case and certain details have been shared with the Enforcement Directorate to check the money trace into the [...] Continue Reading »
