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Punjab Chief Minister’s son Raninder Singh appears before ED in FEMA case

Probe is linked to I-T Department’s findings that certain assets were not disclosed in 2005-07

Raninder Singh, son of Punjab Chief Minister Amarinder Singh, on Thursday appeared before the Enforcement Directorate (ED) to record his statement under the Foreign Exchange Management Act (FEMA), said a senior agency official.

“His statement is being recorded in Jalandhar,” the official said.

The ED probe is linked to the Income-Tax Department’s alleged findings that certain assets acquired abroad were not disclosed in 2005-07. The department had later carried out a reassessment of disclosures and detected the assets located overseas.

Earlier, a Ludhiana court had stayed a previous directive that allowed the ED to inspect some new findings of the I-T Department related to Mr. Raninder Singh.

In June 2016 also, the ED had summoned him under the FEMA.

Source: thehindu.com

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