Despite having Pakistani citizenship in 2003, Adnan Sami has been fined Rs 50 lakh for buying flats and parking space in Mumbai. However, the fine is a relief for Singer as it was earlier ordered by the ED to seize the entire property worth crores of Adnan which was rejected by the tribunal court on 12 September. In 2003, Adnan Sami bought 8 flats and 5 parking spaces in Mumbai. He had Pakistan citizenship at that time. Adnan did not inform RBI about taking these properties, which is necessary for foreign citizens.
In 2003, Adnan Sami bought 8 flats and 5 parking spaces in Mumbai.
Actually, according to Indian law, if a person is a citizen of an outside country and he takes a property in India or makes any kind of investment, then he has to inform it to the RBI. When Adnan Sami came to know that he was not informed about this, the ED had seized his properties in 2010, under the Foreign Exchange Management Act, and imposed a fine of Rs 20 lakh on Singer. Adnan appealed against this in the Appellate Tribunal Court. Now the decision of the tribunal has come on this.