Srinjoy Bose At ED

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Kolkata: ED had summonerd former TMC MP Srinjoy Bose over the FEMA case. Following orders, he arrived at Salt Lake CGO Complex’s ED department on Thursday around 2:30 pm. He is being interrogated presently.

According to sources at ED, if needed, Srinjoy’s statements might be recorded. Few years ago, crores of money were recovered from Kolkata over illegal lottery. In this incident, the ED had lodged the case under the FEMA law. ED wants to know whether Srinjoy Bose had any connection with that money.

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What is FEMA law?

The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India “to consolidate and change the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India”. This act makes offences related to foreign exchange civil offenses. It enabled a new foreign exchange management regime consistent with the emerging framework of the World Trade Organization (WTO).

Prior to this, he was summoned in the Sarada case. He was interrogated for 3 hours at CGO Complex’s CBI department. He was arrested in 2014 in the Sarada case. Later on, he was released. Soon after getting released, he resigned from the MP post in RS from TMC ticket. He also resigned from the TMC party. During investigation in the Sarada case, the ED has freezed his personal bank account.