Foreign Exchange
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Analysed 50
+ Sources
42 DAYS AGO | New Delhi, India |
NewsClick Hit with ₹184 Crore ED Hammer
Event Summary
India's Enforcement Directorate has imposed a total penalty of ₹184 crore on news portal NewsClick and its editor Prabir Purkayastha for alleged violations of foreign exchange rules. The penalty marks a major escalation in a long-running financial probe and raises questions about the use of financial regulations against media entities.
Enforcement Directorate
"Asserts NewsClick violated FEMA by misrepresenting foreign funding and export services to bypass regulatory conditions."
NewsClick
"Denies allegations of foreign editorial influence and asserts all funding was received and reported legally."