ED Issues FEMA Penalty Notices To Amnesty India, Ex-CEO Aakar Patel
New Delhi, Jul 8 (PTI) Amnesty India International Pvt. Ltd and its former CEO Aakar Patel have been slapped with penalty of Rs 51.72 crore and Rs 10 crore respectively for contravention of the foreign exchange law, the ED said on Friday.
The federal agency said it initiated action against the two on the basis of information that Amnesty International, UK had been remitting 'huge amount' of foreign contribution through its Indian entities (non-FCRA companies) following FDI route, in order to evade Foreign Contribution Regulation Act (FCRA) to expand its NGO activities in India.
This was despite denial of prior registration or permissions to Amnesty International India Foundation Trust (AIIFT) and other trusts under FCRA by the Ministry of Home Affairs, it said.
The Enforcement Directorate said the show cause notice of penalty was issued as the funds received 'violated' Foreign Exchange Management Act (FEMA) provisions.
(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.