Notice to SAD leader, kin over FEMA ‘violations’ : The Tribune India

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Notice to SAD leader, kin over FEMA ‘violations’

JALANDHAR: Having found violations of Foreign Exchange Management Act, the Enforcement Directorate has issued show-cause notices to SAD leader Jarnail Singh Wahid, his wife Rupinder Kaur Wahid, son Sandeep Singh Wahid and directors of his sugar mill, while giving them the last opportunity of being heard on the matter.

Notice to SAD leader, kin over FEMA ‘violations’

Jarnail Singh wahid



Deepkamal Kaur

Tribune News Service

Jalandhar, June 20

Having found violations of Foreign Exchange Management Act, the Enforcement Directorate has issued show-cause notices to SAD leader Jarnail Singh Wahid, his wife Rupinder Kaur Wahid, son Sandeep Singh Wahid and directors of his sugar mill, while giving them the last opportunity of being heard on the matter.

They have been asked to show cause in writing within 30 days as to why adjudication proceedings as contemplated under Section 13 of the Act should not be undertaken against them for contraventions of the provisions of FEMA. Besides Wahids, other persons who have been given the notice include Gian Singh Sandhar, former Director of Wahid Sandhar Sugars Ltd, and Malkit Singh Sandhar, its current Director.

The case which was initially opened in 2001 had been lying untouched for 14 years and had been re-opened two years back. An aide of former CM Parkash Singh Badal, Wahid had unsuccessfully contested Vidhan Sabha elections this year from Nawanshahr.

The notice read, “By borrowing Rs 1.23 crore from the UK during October 2000 to May 2001 without any specified term and conditions which were not repaid by him within the specified period, Jarnail Singh Wahid appears to have contravened the provisions of Section 6 (3)(e) of FEMA. By not reporting amount of consideration received by Wahid Sandhar Sugars Ltd for issuance of shares and by not filing FCGPR form to the RBI regarding the foreign investment received in the sugar mill from persons residing outside India to the tune of Rs 6 crore during October 2000 to December 2000, the Wahid Sandhar Sugars Ltd appear to have contravened the provisions of FEMA and its directors holding positions at that time are liable to be charged under Section 42 of the Act.”

Likewise, the SAD leader’s wife Rupinder Kaur had borrowed Rs 3.63 lakh from the UK in May 2001 and their son Sandeep Singh Wahid too had borrowed Rs 3.08 lakh in the same month in violation of the Act. While interrogation in the case was done earlier, these five persons now have 30 days to again to put forth their point.

Meanwhile, Jarnail claimed, "At that time, I had an NRI partner and all departments, including Vigilance Bureau, Income Tax Department and the ED, had initiated an inquiry against me. I had submitted my IT returns and bank account details."

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