RBI Orders BPTP, Directors to Pay Rs 4.84 Crore to Settle FEMA Violations: ED

RBI imposes ₹4.8 crore fine on realty firm over FDI diversion

RBI compounds FEMA violations by BPTP over ₹537.5 crore FDI; ₹4.84 crore penalty on firm and directors for assured returns clauses and fund diversion.

RBI orders BPTP, directors to pay Rs 4.84 crore to settle FEMA violations: ED

The Reserve Bank of India (RBI) has ordered real estate developer BPTP Limited and two of its directors to pay a total of about Rs 4.84 crore to compound violations of foreign exchange rules linked to foreign investment received by the company, the Enforcement Directorate (ED) said in a post on Thursday.

BPTP, Kabul Chawla & Sudhanshu Tripathi: ₹537.50 Crore FEMA Contravention, ED Search, Foreign-Asset Questions And A ₹4.84 Crore Compounding Order — The Questions The Glossy Realty Story Cannot Hide

A ₹4.84 crore payment can make for a neat headline. It can even be dressed up as routine regulatory compliance. But the number that deserves to dominate the BPTP story is not ₹4.84 crore. It is ₹537.50 crore. That is the amount that the Enforcement Directorate’s investigation identified as involved in the FEMA contravention for …

RBI issues compounding order for FEMA violations in case of BPTP Limited

Digital Desk | New Delhi, Oct 1 (IANS) The Reserve Bank of India (RBI) on Thursday said that it has compounded foreign exchange law violations by real estate developer BPTP Limited and two of its directors, Kabul Chawla and Sudhanshu Tripathi, after the company agreed to pay a total compounding amount of Rs 4.84 crore in connection with foreign direct investment (FDI) transactions dating back to 2007 and 2008. The case originated from investig…