22
Feb
New Delhi (National Times): The Enforcement Directorate (ED) has imposed a substantial penalty of ₹344 crore on the Indian subsidiary of the British Broadcasting Corporation (BBC) for alleged violations of the Foreign Exchange Management Act (FEMA). The penalty follows a detailed investigation into the financial dealings of BBC World Service India Pvt. Ltd. Alleged FEMA Violations According to the ED, the BBC’s Indian arm was found guilty of improper fund routing and non-compliance with FEMA regulations. The probe indicated that the company failed to follow the required procedures for foreign exchange transactions, resulting in the hefty penalty. The ED’s action…
