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India fines BBC for alleged foreign exchange violations, sources say

  • The Enforcement Directorate has fined BBC World Service India £3.44 crore for alleged violations of Foreign Exchange Management Act provisions, with an additional daily fine of £5,000 starting from October 15, 2021, according to agency sources.
  • Directors Giles Antony Hunt, Indu Shekhar Sinha, and Paul Michael Gibbons have each been fined £1,14,82,950 for their roles in the violations.
  • The Enforcement Directorate alleges that BBC World Service India failed to reduce its Foreign Direct Investment to the mandated 26%, maintaining it at 100% instead.
  • The tax raids in February 2023 followed a BBC documentary on Indian Prime Minister Narendra Modi's leadership during the 2002 Gujarat riots.
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Indian ExpressIndian Express

Two years after registering case over FEMA violations, ED slaps Rs 3.44 crore penalty on BBC India

The ED lodged the case following Income-Tax Department surveys at the BBC premises in New Delhi and Mumbai in February 2023 for alleged “non-compliance” with transfer pricing rules and diversion of profits.

·India
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OpIndiaOpIndia

ED slaps Rs3.44 crore penalty on BBC India for FEMA violations

The Enforcement Directorate (ED) has imposed a penalty exceeding ₹3.44 crore on BBC World Service India for violations of Foreign Direct Investment (FDI) regulations under the Foreign Exchange Management Act (FEMA).

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The PrintThe Print

ED fines BBC World Service India Rs 3.44 crore for FEMA violations, penalises 3 directors too

ED’s FEMA case came after an Income Tax Department survey of the BBC’s offices in New Delhi and Mumbai in February 2023 found violations.

·New Delhi, India
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ReutersReuters
+4 Reposted by 4 other sources

India fines BBC for alleged foreign exchange violations, sources say

India's financial crime fighting agency has fined British broadcaster BBC 314,510 pounds ($397,980) for alleged foreign exchange violations in the South Asian nation, three government sources told Reuters.

·United Kingdom
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The HinduThe Hindu

ED issues order levying penalty of over ₹3.44 crore on BBC World Service India for alleged FEMA violations

Enforcement Directorate fines BBC India for FEMA violation, directors fined, restructuring announced to comply with FDI rules.

·India
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Deccan HeraldDeccan Herald

ED slaps Rs 3.44 crore penalty on BBC India; fines 3 directors

Three BBC directors -- Giles Antony Hunt, Indu Shekhar Sinha and Paul Michael Gibbons -- have each been fined Rs 1,14,82,950 for their roles in overseeing company operations.

·Karnataka, India
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Deccan Herald broke the news in Karnataka, India on Friday, February 21, 2025.
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