All stories by Paranjoy Guha Thakurta And Pranati Mehra
Of Welspun, Cyprus and the FEMA conundrum
Rediff.com9 Mar 2015The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.