(a) whether the Enforcement Directorate has issued showcause notices to Telecom Companies
for violation of Foreign Exchange Management Act (FEMA) rules in the recent past;
(b) if so, the details thereof for the last three years and the current year; and
(c) the action taken by the Government against these companies during the aforesaid period,
company-wise?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI J.D. SEELAM)
(a) to (c) : Based on the investigations conducted by the Directorate of Enforcement, the
Adjudicating Authorities have issued 16 Show Cause Notices during the years 2011, 2012 & 2013
(till 31.07.2013) under Foreign Exchange Management Act (FEMA) to certain Telecom Companies
and other connected individuals/entities for the alleged contravention of the relevant provisions
of FEMA.
Adjudication proceedings have since been completed against one company namely, ‘Idea Cellular
Limited’ which was held guilty of the contravention of the provisions of FEMA and a penalty of
Rs. 2.90 Crores was imposed. The penalty amount stands realized.