The Enforcement Directorate (ED) has imposed a penalty of Rs 3.44 crore on BBC World Service India for alleged contravention of foreign direct investment (FDI) regulations, agency officials said.
Additionally, the agency has fined the company’s directors — Giles Anthony Hunt, Indu Shekhar Sinha and Paul Michael — Rs 1.14 crore each for their role in overseeing the operations. The order was issued against the British broadcaster following adjudication under the Foreign Exchange Management Act (FEMA).
The ED has also levied a daily penalty of Rs 5,000 on BBC India, applicable from October 15, 2021, until compliance is achieved, for failing to adhere to the government’s 26 per cent FDI cap for digital media under the government approval route. Despite the regulations, BBC India, a 100 per cent FDI company engaged in uploading and streaming news and current affairs through digital media, continued to maintain its FDI at 100 per cent in violation of the rules, sources said.