FEMA Adjudicating Authority Imposes ₹184 Crore Penalty on NewsClick, Founder Prabir Purkayastha

ED slaps Rs 184-cr FEMA penalty on NewsClick, editor

The order specifies that the company that owns the portal NewsClick has been penalised for an amount of Rs 120 crore, while Purkayastha has been issued the same order for Rs 64 crore of alleged violations, the ED said.

Rs 184-cr FEMA penalty slapped on NewsClick, promoter Purkayastha - The Tribune

The penalty has been imposed on the news portal and its owner for alleged violation of the foreign exchange law involving foreign direct investment and foreign inward remittances.

FEMA adjudicating authority imposes ₹184 crore penalty on NewsClick, founder Prabir Purkayastha

The adjudication proceedings were initiated on a complaint under Section 16 of FEMA filed by the ED alleging contraventions of FEMA and the rules and regulations pertaining to the receipt and utilisation of foreign funds

ED imposes ₹184 crore FEMA penalty on NewsClick and editor Prabir Purkayastha

ED slaps ₹184 crore FEMA penalty on NewsClick and editor Prabir Purkayastha over alleged FDI misrepresentation and export misdeclaration.

ED Imposes Rs 184 Crore Penalty on Newsclick and its Director Prabir Purkayastha Under FEMA

Of the total, a penalty of Rs 120 crore has been imposed on the company and Rs 64 crore levied on its director, Prabir Purkayastha, under Section 42 of FEMA, holding him responsible for the conduct of the company's business during the relevant period.

ED imposes Rs 184 crore penalty on NewsClick in FEMA violation case

India News: NEW DELHI: The Enforcement Directorate (ED) has imposed a penalty of Rs 184 crore under the Foreign Exchange Management Act (FEMA) on news portal News.