The Enforcement Directorate has imposed a fine of over Rs 3.44 crore on BBC World Service India for purported violations of FDI regulations, officials confirmed on Friday.
The agency also penalised three directors with fines exceeding Rs 1.14 crore each through an adjudication order against the British broadcaster under FEMA. The proceedings began following a show-cause notice issued on August 4, 2023, addressing BBC WS India, its directors, and finance head for various regulatory breaches.
BBC WS India, operating with complete foreign direct investment, provides news and current affairs content through digital platforms. The company failed to comply with government regulations by maintaining 100 per cent FDI instead of reducing it to 26 per cent, as per official sources.
According to press note 4 issued by DPIIT on September 18, 2019, digital media entities must adhere to a 26 per cent FDI limit under the government approval route.
The total financial penalty on BBC WS India amounts to Rs 3,44,48,850, with an additional daily fine of Rs 5,000 from October 15, 2021, until compliance is achieved, for breaching FEMA, 1999 provisions.
The three BBC directors – Giles Antony Hunt, Indu Shekhar Sinha and Paul Michael Gibbons – received individual penalties of Rs 1,14,82,950 for their oversight during the period of violation.