ED Imposes ₹3.44 Cr Penalty On BBC India For FEMA Violations
The Enforcement Directorate (ED) has issued an adjudication order imposing a penalty of ₹3.44 crores on BBC India for;
ED Imposes ₹3.44 Cr Penalty On BBC India For FEMA Violations
The Enforcement Directorate (ED) has issued an adjudication order imposing a penalty of ₹3.44 crores on BBC India for alleged violations of the Foreign Exchange Management Act (FEMA). Additionally, the news organization has been directed to pay ₹5,000 per day from October 15, 2021, until it complies with the order.
The ED also levied a fine of ₹1.14 crores each on three directors of BBC India—Giles Antony Hunt, Indu Shekhar Sinha, and Paul Michael Gibbons—holding them accountable for the company’s operations during the period of alleged non-compliance.
A show cause notice was issued on August 4, 2023, questioning why action should not be taken for the violation. According to the ED, BBC India remained 100% foreign-owned despite a government notification dated September 18, 2019, which mandated a 26% cap on foreign investment in digital media companies.
The case against BBC India and six of its employees was registered in April 2023, two months after the Income Tax Department conducted a three-day survey at the company's offices in Delhi and Mumbai.
By: - Suraj Sinha
