Cases Registered Under FEMA

The number of investigation cases registered under the Foreign Exchange Management Act (FEMA), 1999 during the last three Financial Years are as follows: Financial Year 2011-12 2012-13 2013-14 Cases Registered 1170 1622 1041             On completion of investigations under FEMA, in case of any violations are noticed, Show Cause Notices are issued to the entities concerned which are adjudicated by the appropriate Adjudicating Authority as per the assigned monetary limits. There is no provision under FEMA to launch prosecution proceedings for any violations and hence there is no question of conviction.