FM orders forensic probe into Rs 6k-cr BoB forex scam

In a written reply in Rajya Sabha on Tuesday, Finance Minister Arun Jaitley said CBI and Enforcement Directorate have registered cases on the bases of complaint filed by the bank regarding irregularities in outward foreign remittances from its Ashok Vihar Branch, New Delhi through newly opened accounts, to the tune of approximately Rs 6,000 crore. 

He also said Ministry of Corporate Affairs has ordered investigation in respect of 11 companies involved in the transaction.

“Department of Financial Services has ordered a forensic investigation in the matter. Details of the involvement of other banks will be known only at the end of investigation,” Jaitley said.

To a query related to report of Justice A P Shah panel on MAT, MoS for Finance Jayant Sinha said the government has accepted the recommendations and decided to carry out appropriate amendments so as to provide that Minimum Alternate Tax provision will not be applicable to FIIs/FPIs not having a place of business/ permanent establishment in India, for a period prior to 

April 1, 2015.