 "ED fines BBC India Rs 3.44 crore for foreign funding violations, penalizes directors")
synopsis
The Enforcement Directorate has fined BBC India Rs 3.44 crore for violating India’s foreign funding rules, along with additional daily penalties. Three directors have also been penalized Rs 1.14 crore each. The action follows an Income Tax survey in 2023.
The Enforcement Directorate (ED) has imposed a penalty on British Broadcasting Corporation (BBC) India for allegedly violating India's foreign funding regulations under the Foreign Exchange Management Act (FEMA), 1999.
Officials stated that BBC India failed to reduce its foreign funding to comply with the 26% cap imposed on digital media organizations.
The financial probe agency levied a fine of Rs 3.44 crore on BBC WS India, along with an additional daily penalty of Rs 5,000 for non-compliance beyond October 15, 2021. Furthermore, three directors—Giles Antony Hunt, Indu Shekhar Sinha, and Paul Michael Gibbons—have each been fined Rs 1.14 crore for overseeing operations during the period of violation, Hindustan Times reported.
The ED's action follows an Income Tax survey of BBC India in February 2023. The broadcaster is yet to issue an official response to the penalty.
Also read: Opposition red-faced after BBC India reportedly admits under-reporting its income
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