Posts tagged Foreign Exchange Management Act
By Bollywood Hungama News Network, February 21, 2011 – 15:03 IST
That the renowned Pakistani singer was caught with undeclared foreign currency at the airport is known by now to everyone. But, on Saturday, he, along with his manager Maroof were slapped by the DRI (Directorate of Revenue Intelligence) with the charges under FEMA (Foreign Exchange Management Act) and Customs Act in connection with recovery of huge undeclared foreign currency.
Reports state that the duo will be permitted to leave the country after they pay a penalty to be determined by the Commissioner, while the foreign exchange money will remain impounded.
Fearing that he might abscond and never return to India, the singer’s wife appealed to the court to not allow him a visit to Dubai. The lawyers invoked a FEMA violation
Chandrima Pal and Vickey Lalwani (MUMBAI MIRROR; January 28, 2011)
Trouble seems to be a constant with Pakistani singer Adnan Sami. Yesterday, he was shocked to learn that the Metropolitan Court had debarred him from leaving for a show in Dubai, thanks to his wife Sabah Galadari objecting to it.
Sabah objected to Adnan’s application to travel to Dubai. She was apprehensive that Adnan might flee India and go absconding from Dubai.
Adnan’s lawyer Vaibhav Krishnan tried very hard to get his client the permission he desired but all his efforts proved to be futile.
Confirming this Sabah’s lawyer, Edith Day, told Mumbai Mirror, “Yes, we were apprehensive that Adnan might not return from Dubai.
Hence we appealed to the court to not allow him the visit.”
Added Edith, “We raised our objection on the grounds that Adnan still has to pay Rs 20 lakh as penalty imposed by FEMA (Foreign Exchange Management Act) for purchasing his flat without the required permission from RBI (Reserve Bank Of India).”
Singer Adnan Sami says he’s determined to fight for his home which has been confiscated by ED
Subhash K Jha (MUMBAI MIRROR; December 28, 2010)
Acombative Adnan Sami whose sprawling house at Andheri has been attached by the Enforcement Directorate for violations under the Foreign Exchange Management Act, took on the builder and the registration authorities in Mumbai on Monday.
Sami, of Pakistani origin, came here in 1999 and has been in India since. “I’m a tax payer now. I’ve done everything according to the rules. I have a PAN card. In 2003 I decided to buy this property in Oberoi Sky Garden.Adnan Sami and his wife Roya at their Oberoi Sky Garden (right) residence in Lokhandwala on Monday
I knew the builder Vikas Oberoi and he said to me, ‘I’ve just completed a building and I’ve got some apartments in it, why don’t you check it out?’ He got his office and legal team to take care of the formalities. My job, I thought, was done once I paid the money.
Obviously when you buy property there are a thousand papers and legal documents. How was I to know what the formalities were, wasn’t this his (Vikas Oberoi’s) line of work? Anyhow he asked me to furnish documents like passport, PAN card, etc. They took care of the formalities. That I was a Pakistani was never hidden. It was all there on paper. Then I needed a part loan. Vikas Oberoi arranged a loan of Rs 1.5 crore rupees. The whole property was worth Rs 2.3 crores.”
The charge against More >
By Bollywood Hungama News Network, December 27, 2010 – 14:19 IST
Adnan Sami came to Mumbai and shot to fame with songs like ‘Kabhi Toh Nazar Milaao’, ‘Lift Kara De‘ and likes. The songs became so famous far and wide that Adnan, in no time, became the blue eyed boy of the music industry. Not the one to ‘throw his weight around’; he shocked everyone with ‘shedding off his weight’, one fine day!
Post that, he has been in the news mostly for his personal reasons than professional. Few days back, Adnan was in the news for his estranged relationship with his ex-wife. His family issues were out in the open. And now just when, things seemed to settle down for the singer, another controversy has struck him.
It is learnt that The Enforcement Directorate (ED) has confiscated Adnan’s eight properties and five parking spaces under the Foreign Exchange Management Act (FEMA). According to the reports, ED slapped the penalty on Adnan on grounds of illegal possession of the estate and now as per FEMA, Adnan’s same belongings have become government properties. Not just that, the Directorate not only imposed a fine of Rs 20 lakh on him, (as being a Pakistan national, he was not allowed to acquire properties in India), but also charged him with purchasing properties without the permission of the Reserve Bank of India.
News has it that the singer had purchased eight flats in Andheri for Rs 2.53 crore and had taken loan of Rs 1.5 crore from a bank for the purchase.
Watch this More >