Fema Act, 1999 have no Provision to initiate prosecution

 The Foreign Exchange Management  Act, 1999 is a civil act in nature as such there is no provision for launching the prosecutions.  During the last three years i.e. 2009-10,2010-11 and 2011-12 (upto July 2011) , the Directorate of  Enforcement has issued 990 Show Cause Notices to various persons/firms under Foreign Exchange Management Act,1999 (FEMA), for initiating the adjudication proceedings.

The Zone-wise details of the Show Cause Notices issued during the last three years is as under: –

This information was given by the Minister of State for Finance, Shri   S.S.Palanimanickam in written reply to an Unstarred Question in Lok  Sabha today.