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Flipkart, Amazon Executives To Be Summoned Over Alleged Forex Violations: Report
India's financial crime agency will summon Flipkart and Amazon executives as it steps up an investigation into alleged foreign investment law violations, days after raiding some of the e-commerce firms' sellers, a government source told Reuters.
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Fighting Brazil Ban, Elon Musk's X Names Legal Representative
Brazilian law requires foreign companies to name a legal representative to operate in the country. The representative would assume the legal responsibilities for the firm locally.
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Binance CEO Richard Teng Summoned in Nigeria Over Money Laundering Suspicions: Report
Nigeria’s House of Representatives Committee on Financial Crimes has reportedly summoned Teng on suspicions of the exchange’s potential involvement in money laundering and terror financing. The deadline for this meeting was supposed to be March 4, but news about this meeting having taken place hasn't yet come to light.
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CoinDCX Hatches a Million Dollar Plan to Reap Advantages of India’s Crackdown on Foreign Exchanges
CoinDCX, that claims to have seen a 2,000 percent hike in crypto desposits in the last few days, has decided to offer one percent bonus to all investors who make deposits on the exchange between January 9 and January 17, 2024.
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India’s Crypto Action Awaits Analysis on Nation-Specific Characters and Risks: Finance Ministry
For India, the deployment of final crypto laws could still be at least 18 months away. Pankaj Chaudhary, Minister of State for Finance, this week told the Rajya Sabha that India is currently laying focus on assessing the impacts and risks that crypto could pose on its existing financial systems.
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Indian Online Gaming Firms Planning to Relocate Could Violate Laws: Official
Indian online gaming firms planning to relocate overseas to avoid a new 28 percent tax on the sector run the risk of violating the country's foreign exchange laws, Vivek Johri, head of the indirect taxes' department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in response to speculation it could do so.
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Online Education Firm Controlled By Chinese Nationals Raided In Bengaluru
The Enforcement Directorate on Thursday said it carried out searches against a Bengaluru-based online education company, fully owned and controlled by Chinese nationals, for allegedly violating the foreign exchange law and remitting Rs 82 crore to China 'illegally'.
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Foreign Lawyers, Firms Can't Appear In Indian Court, Says Lawyers' Body
The Bar Council of India (BCI) assured Indian lawyers on Sunday that foreign advocates and law firms will not be allowed to appear in any court or judicial forum and that they can only advise their clients about foreign laws and international laws.
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‘Taking Zero-Risk Approach in India’: Giottus CEO on Keeping Crypto Biz Legally Safe
Amid legal challenges around crypto sector in India, Giottus CEO Vikram Subburaj has admitted to have avoided taking many decisions to prevent its business from getting in legal troubles. Subburaj said the company has not onboarded any foreign parent or even investor and has neither launched any native coin that may cause its users financial risks ...
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India To Allow Foreign Law Firms To Set Up Offices In Country
The Bar Council of India in new rules issued on Wednesday said foreign lawyers and law firms can also advise on international arbitration cases on a reciprocal basis.
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Russia Announces Punitive Measures Against Five Foreign IT Firms for Violating Online Content Laws
Russia regulator Rozkomnadzor said on Friday that it was would take punitive action against TikTok, Telegram messaging service, Zoom Video Communications, chat tool Discord and Pinterest. The country's regulator did not say what action it would take against the five foreign IT companies, but revealed that they had violated online content laws, whic...
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Vivo India Probe Should Be in Accordance With Law, Regulations, Chinese Foreign Ministry Says
China has expressed hope that the ongoing investigation of Vivo India in a money laundering case by the Enforcement Directorate (ED) would be conducted in accordance with the law and regulations, providing a "fair" and "non-discriminatory" business environment to China’s firms. Chinese Foreign Ministry spokesman Zhao Lijian stated on Wednesday th...
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ED's Seizure of Xiaomi India Assets Worth $725 Million Said to Be Put on Hold by Indian Court
An Indian court is said to have put on hold a federal enforcement agency's decision to seize $725 million from local bank accounts of China's Xiaomi for suspected violations of foreign exchange laws, according to sources.
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Chinese Firm Xiaomi's Top Exec Summoned Today In Probe Over India Practices
Probe agency Enforcement Directorate has summoned Manu Kumar Jain, Xiaomi's former India managing director, to appear before it in a probe linked to the firm's business practices conformed with Indian foreign exchange laws, sources said today.
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Putin Signs Law Forcing Foreign IT Firms To Open Offices In Russia
President Vladimir Putin has signed a law obliging foreign IT firms to open offices on Russian territory, a document published by the government on Thursday showed, the latest move by Moscow to exert greater control over Big Tech.
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Flipkart, Amazon Executives To Be Summoned Over Alleged Forex Violations: Report
India's financial crime agency will summon Flipkart and Amazon executives as it steps up an investigation into alleged foreign investment law violations, days after raiding some of the e-commerce firms' sellers, a government source told Reuters.
-
Fighting Brazil Ban, Elon Musk's X Names Legal Representative
Brazilian law requires foreign companies to name a legal representative to operate in the country. The representative would assume the legal responsibilities for the firm locally.
-
Binance CEO Richard Teng Summoned in Nigeria Over Money Laundering Suspicions: Report
Nigeria’s House of Representatives Committee on Financial Crimes has reportedly summoned Teng on suspicions of the exchange’s potential involvement in money laundering and terror financing. The deadline for this meeting was supposed to be March 4, but news about this meeting having taken place hasn't yet come to light.
-
CoinDCX Hatches a Million Dollar Plan to Reap Advantages of India’s Crackdown on Foreign Exchanges
CoinDCX, that claims to have seen a 2,000 percent hike in crypto desposits in the last few days, has decided to offer one percent bonus to all investors who make deposits on the exchange between January 9 and January 17, 2024.
-
India’s Crypto Action Awaits Analysis on Nation-Specific Characters and Risks: Finance Ministry
For India, the deployment of final crypto laws could still be at least 18 months away. Pankaj Chaudhary, Minister of State for Finance, this week told the Rajya Sabha that India is currently laying focus on assessing the impacts and risks that crypto could pose on its existing financial systems.
-
Indian Online Gaming Firms Planning to Relocate Could Violate Laws: Official
Indian online gaming firms planning to relocate overseas to avoid a new 28 percent tax on the sector run the risk of violating the country's foreign exchange laws, Vivek Johri, head of the indirect taxes' department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in response to speculation it could do so.
-
Online Education Firm Controlled By Chinese Nationals Raided In Bengaluru
The Enforcement Directorate on Thursday said it carried out searches against a Bengaluru-based online education company, fully owned and controlled by Chinese nationals, for allegedly violating the foreign exchange law and remitting Rs 82 crore to China 'illegally'.
-
Foreign Lawyers, Firms Can't Appear In Indian Court, Says Lawyers' Body
The Bar Council of India (BCI) assured Indian lawyers on Sunday that foreign advocates and law firms will not be allowed to appear in any court or judicial forum and that they can only advise their clients about foreign laws and international laws.
-
‘Taking Zero-Risk Approach in India’: Giottus CEO on Keeping Crypto Biz Legally Safe
Amid legal challenges around crypto sector in India, Giottus CEO Vikram Subburaj has admitted to have avoided taking many decisions to prevent its business from getting in legal troubles. Subburaj said the company has not onboarded any foreign parent or even investor and has neither launched any native coin that may cause its users financial risks ...
-
India To Allow Foreign Law Firms To Set Up Offices In Country
The Bar Council of India in new rules issued on Wednesday said foreign lawyers and law firms can also advise on international arbitration cases on a reciprocal basis.
-
Russia Announces Punitive Measures Against Five Foreign IT Firms for Violating Online Content Laws
Russia regulator Rozkomnadzor said on Friday that it was would take punitive action against TikTok, Telegram messaging service, Zoom Video Communications, chat tool Discord and Pinterest. The country's regulator did not say what action it would take against the five foreign IT companies, but revealed that they had violated online content laws, whic...
-
Vivo India Probe Should Be in Accordance With Law, Regulations, Chinese Foreign Ministry Says
China has expressed hope that the ongoing investigation of Vivo India in a money laundering case by the Enforcement Directorate (ED) would be conducted in accordance with the law and regulations, providing a "fair" and "non-discriminatory" business environment to China’s firms. Chinese Foreign Ministry spokesman Zhao Lijian stated on Wednesday th...
-
ED's Seizure of Xiaomi India Assets Worth $725 Million Said to Be Put on Hold by Indian Court
An Indian court is said to have put on hold a federal enforcement agency's decision to seize $725 million from local bank accounts of China's Xiaomi for suspected violations of foreign exchange laws, according to sources.
-
Chinese Firm Xiaomi's Top Exec Summoned Today In Probe Over India Practices
Probe agency Enforcement Directorate has summoned Manu Kumar Jain, Xiaomi's former India managing director, to appear before it in a probe linked to the firm's business practices conformed with Indian foreign exchange laws, sources said today.
-
Putin Signs Law Forcing Foreign IT Firms To Open Offices In Russia
President Vladimir Putin has signed a law obliging foreign IT firms to open offices on Russian territory, a document published by the government on Thursday showed, the latest move by Moscow to exert greater control over Big Tech.
