Adnan Sami Fined Rs10 Million for Buying Property in India as a Pakistani National
Former Pakistani and now overly patriotic Indian singer Adnan Sami has been penalized by a tribunal for buying property in India before acquiring the country’s nationality. As per an Indian publication, the singer had bought 8 flats in Mumbai with the status of a Pakistani national and will now pay a hefty fine of INR 5 million (PKR 10 million).
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As per the Indian law, a foreign national has to attain special permission from Reserve Bank of India before buying immovable property in the country. Unaware of the law, Adnan bought flats worth INR 2.53 crore.
Appellate Tribunal for the Foreign Exchange Management Act (FEMA) gave a verdict in the case as they directed Adnan Sami to pay the fine in three months time.
Earlier Enforcement Directorate Special Director (Mumbai) had ordered to confiscate the said property in 2010, the current decision (as a result of Adnan’s appeal) has rescinded the earlier verdict and only imposed a fine.
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“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 India banks. The loans have been duly repaid, for the confiscation of the properties,” the tribunal said in its judgment.
Sami claims he was not aware that Pakistani nationals could not purchase immovable property in India.