FEMA violation: ED issue show cause notice to promoters of Transcorp ltd. ...Middle East

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FEMA violation: ED issue show cause notice to promoters of Transcorp ltd.
Enforcement Directorate (ED) has issued a Show Cause Notice to Transcorp International Limited and its promoter director Ashok Kumar Agarwal and Managing Director Gopal Krishan Sharma in connection with the violation of Foreign Exchange Management Act (FEMA). According to the official statement, The case pertains to a contravention of provisions of FEMA regulations to the tune of Rs. 7272 Crore.

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