What is Enforcement
Directorate?
It is a law
enforcement agency, and it works as economic intelligence unit as well. So,
basically it is responsible for enforcing – economic laws so that economic
crimes can be controlled in India. The official position comes under the
Department of Revenue, in Ministry of Finance.
The Office has
officered from – Indian Revenue Services, Indian Police Services, Indian administrative
Services.
What are FEMA
Guidelines?
FEMA or Foreign Exchange
Management Act is an Indian law which regulates ‘foreign exchange’. It was
passed in 1999 and replaced the earlier act know as FERA or Foreign Exchange
Regulation Act. The act provides guidelines for the free flow of foreign exchange in India. It also brought a new management regime of foreign exchange consistent with the emerging frame work of World Trade Organization.
This act makes
offences related to foreign exchange as civil offenses.
What happened with
NDTV?
According to the
enforcement directorate, NDTV, which is a news channel has received foreign
direct investment of 725 crores. This is a huge money, and according to the
law, this much big investment need the approval of Cabinet Committee on
Economic Affairs (CCEA).
NDTV’s Stand
NDTV has said that
FDI are below 600 crores and this needed approval of Foreign Investment
Promotion Board (FIPB). NDTV has further accused that it has been targeted for
its fair and independent journalism.
The channel, in a statement on its website, said it rejected any allegations of violating FEMA regulations. “NDTV maintains that it is being targeted for its fair and independent journalism and that its persecution is intended to signal to other media that unless they fall in line, they will face similar consequences,” it said.
In June last year, the CBI had raided NDTV’s offices and the homes of its promoters claiming to be probing allegations of bank fraud. The company had denied wrongdoing and alleged a “witch hunt” against a channel that has often criticized the government.
The Investigation’s
Report
According to the
Investigation’s report, the FDI shows contraventions to the extent of 1,637
crore, and other related overseas investment of 2,732 crores.
.jpg)
