ED books BBC under FEMA over FDI fraud
New Delhi: The Enforcement Directorate (ED) on Thursday registered a case against British Broadcasting Corporation (BBC) under Foreign Management Exchange Act (FEMA).
As per the ED, BBC brought foreign investment into India without FDI approval. the central probe agency is investigating the matter.
The ED sought documents and the recording of statements of some office bearers under provisions of the FEMA.
Earlier in February, Income tax (IT) authorities raided the BBC offices in Delhi and Mumbai (BBC).
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The Central Board of Direct Taxes (CBDT), the administrative body of the income tax department, had said at the time that the income and profit figures shown by media group BBC's various entities were not as per law to operations in India and that its units had remitted some money abroad. The tax has not been paid on the amount.
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