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	<title>TaxGuru &#187; secretaries and administrators</title>
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		<title>State governments to monitor violation of FDI regulation in retail sector</title>
		<link>http://taxguru.in/fema/state-governments-to-monitor-violation-of-fdi-regulation-in-retail-sector.html</link>
		<comments>http://taxguru.in/fema/state-governments-to-monitor-violation-of-fdi-regulation-in-retail-sector.html#comments</comments>
		<pubDate>Thu, 26 Nov 2009 02:40:04 +0000</pubDate>
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				<category><![CDATA[FEMA]]></category>
		<category><![CDATA[domestic investment]]></category>
		<category><![CDATA[FDI]]></category>
		<category><![CDATA[foreign direct investment]]></category>
		<category><![CDATA[foreign exchange management]]></category>
		<category><![CDATA[institutional users]]></category>
		<category><![CDATA[management act]]></category>
		<category><![CDATA[ministry of commerce]]></category>
		<category><![CDATA[parliamentary standing committee]]></category>
		<category><![CDATA[personal consumption]]></category>
		<category><![CDATA[retail companies]]></category>
		<category><![CDATA[retail sector]]></category>
		<category><![CDATA[secretaries and administrators]]></category>
		<category><![CDATA[state governments]]></category>
		<category><![CDATA[union territories]]></category>

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		<description><![CDATA[It has directed them to create a “suitable mechanism” to hold periodic scrutiny against violation of Foreign Exchange Management Act (FEMA). The move comes after it was found that some foreign retail companies or joint ventures, which had permission to undertake only “cash &#038; carry wholesale trading” were violating the rules. They were apparently selling directly for personal consumption, which is prohibited. It was also noticed that companies that were allowed to operate single-brand retail outlets sold multiple brands in violation of permission.]]></description>
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