Yes, according to the on-line listings, it is banned in-competition, I wasn't arguing the technicalities, I simply stated that Ephedrine is a banned substance, which it is. It is up to the individual to check on the details if they want to take something like this.
Might also want to check on the dosage required to illicit the "fat burning" effects, as this may mean taking large doses of medicine which includes other ingredients you shouldn't be taking in these quantities.
The normal thing to do is to simply east a decent diet and train well.