The ED filed a lawsuit against the British broadcaster BBC under the Foreign Exchange Management Act (FEMA) for...
Digital Desk: In an update, the Enforcement Directorate has launched a complaint against the British broadcaster BBC under the Foreign Exchange Management Act (FEMA) for irregularities in foreign funding. According to insiders, a FEMA complaint has been filed against the BBC, and an investigation is underway.
According to reports, the central investigating agency, which generally deals with economic offences committed in the country, has maintained that the case in question was launched a few months ago. According to the reports, the ED has questioned a few BBC staff members in India, and many documents about overseas remittances and books of accounts are under review.
"The investigation is primarily looking into alleged foreign direct investment (FDI) violations by the company," based on sources. Notably, this comes after the Income Tax agency conducted our poll in February at the British broadcaster's Mumbai and Delhi offices.
According to the I-T department, the survey was performed on the BBC's Delhi headquarters due to its "deliberate non-compliance with the Transfer Pricing Rules and its vast diversion of profits." The department further stated that the investigations were part of a 'survey' and did not constitute a search or raid under the provisions of the Income Tax Act.
The government also claimed that the income and profits displayed by several BBC group corporations were "not commensurate" with the scale of their operations in the country, and that tax had not been paid on certain remittances made by its foreign entities.
Continue Reading
