BBC Faces Hefty FDI Penalty Amid Regulatory Breach Allegations

The Enforcement Directorate has imposed over Rs 3.44 crore in fines on BBC World Service India for breaching foreign direct investment norms. Three directors were also fined, following a FEMA probe initiated after a tax survey. BBC is cooperating with authorities to resolve the issue.

The Enforcement Directorate has slapped a hefty fine exceeding Rs 3.44 crore on BBC World Service India for alleged violations of foreign direct investment regulations, according to agency officials on Friday.

In addition to the broadcaster, three directors have each been fined over Rs 1.14 crore following a decision under the Foreign Exchange Management Act (FEMA). This development follows adjudication that was initiated with a show-cause notice dated August 4, 2023.

The federal probe zeroed in on the broadcaster after the income-tax department's survey in February 2023. BBC WS India reportedly failed to reduce FDI to 26 per cent from a total of 100 per cent, violating government directives. The BBC has expressed its willingness to cooperate with officials.

(With inputs from agencies.)