GOVERNMENT OF INDIA

MINISTRY OF FINANCE

LOK SABHA

UNSTARREDQUESTION NO: 2445

ANSWERED ON: 07.12.2012 

(a) whether the Enforcement Directorate has received representations from various quarters including Members of Parliament regarding alleged, FEMA violations by a Multinational Company (MNC) in retail market; 

(b) if so, the details thereof and the reaction of the Government thereto, company-wise;

  (c) whether Government has conducted any enquiry into these allegations and has taken any action in this regard; 

(d) if so, the details thereof and if not, the reasons therefor; and

  (e) the measures adoptedproposed to be adopted by the Government to address the issue? 

ANSWER

(a) & (b): The Enforcement Directorate has received a reference from RBI along with a representation

made by an Honble Member of Parliament to the Honble Prime Minister regarding alleged contravention of Foreign Exchange Management Act, 1999 (FEMA), by Wal-Mart. 

(c) & (d): Directorate of Enforcement is examining the complaint of alleged contravention of provisions of Foreign Exchange Management Act, 1999 (FEMA) by Wal-Mart. 

(e) : Directorate of Enforcement takes appropriate action under FEMA as and when such instances come to its notice.