Goa govt to seek relief for geniune FEMA violation cases
Panaji: The Goa government will seek concession in genuine cases of foreigners, whose properties have been served notices by Enforcement Directorate (ED) for violation of Foreign Exchange Management Act (FEMA).
Chief Minister Manohar Parrikar told PTI that the state government will approach concerned authorities for imposing nominal penalty on them.
He clarified that the state government will not stand by huge investments made in the state for commercial purposes.
"We can take up cases of small houses or flats," Parrikar explained. The Chief Minister further said that the state will pitch in for the cases basically related to senior citizens, who have invested their retirement earning in the state and for those dwellings which are old.
ED has begun the process to issue notice to various foreigners mostly Britishers and Russians for alleged violation of forex rules in buying properties.
Parrikar said the money was invested by majority of foreigners through right channel but they had not followed the proper procedure.
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