AGENCIES
Enforcement Directorate (ED) has issued a show-cause notice to NRI businessman C C Thampi for alleged violation of foreign exchange laws in purchase of vast tracts of land in Kerala.
Sources said, the central probe agency has issued the notice under provisions of the Foreign Exchange Management Act-FEMA alleging contravention of over one thousand crore rupees by the businessman, his wife and their companies.
Sources said, the couple under the scanner of the agency for their reported dealings with the families of some politicians and bureaucrats, are non-resident Indians and hence were not entitled to purchase land. In February this year, the ED had issued a similar show- cause notice to Thampi and his firms for alleged FEMA violation amounting to over 288 crore rupees in acquiring about 927 acres of land in Delhi and adjoining areas.