Indian Tribunal Fines Adnan Sami For Buying Mumbai Flats While He Was Pakistani
An Indian tribunal has imposed a fine of INR 5 million on singer/composer Adnan Sami Khan for buying eight flats in Mumbai in 2003 without first seeking the permission of Reserve Bank of India (RBI). The artist was still holding his Pakistani nationality at that time.
According to The Hindu newspaper, Sami had bought eight flats in Mumbai for a total sum of INR 2.53 crores without the permission of RBI. The artist needed special permission as he had not received his Indian nationality at that time.
The court ordered the singer to pay the amount within three months of the order issued on September 12.
Sami said that he was not aware that Pakistani nationals could not purchase immovable property in India.
The Appellate Tribunal for the Foreign Exchange Management Act (FEMA) imposed the penalty after quashing a December 2010 order of the Enforced Directorate Special Director (Mumbai) for confiscation of the properties.
The tribunal’s directive came in response to an appeal filed by the artist against the Special Director’s order to confiscate the properties and imposing fines amounting to INR 2 million.
The tribunal issued the ruling after hearing counsels representing Sami and the Enforcement Directorate Special Director.
“The flats were purchased by Indian rupees, out of monies earned in India on which Income Tax has been paid, as well as monies loaned from Indian banks. The loans have been duly repaid,” ruled the tribunal after hearing both sides.