Show-cause notice issued to Sanjay Jhunjhunwala over alleged foreign exchange dealings: ED
Jun 24, 2020
New Delhi [India], June 24 : A show-cause notice amounting to Rs 206 crore has been issued to Mani group promoter Sanjay Jhunjhunwala for his illegal dealings in foreign exchange, the Enforcement Directorate (ED) said on Wednesday.
According to the ED, Jhunjhunwala maintained unauthorized foreign bank accounts and routed unaccounted money into India.
"Adjudicating Authority under FEMA issues show-cause notice amounting to Rs 206 crores to Sanjay Jhunjhunwala, promoter of Mani group for illegal dealings in Foreign Exchange, unauthorizedly maintaining foreign bank accounts and routing unaccounted money into India," the economic offences watchdog tweeted.
