Google India executives asked to furnish 50% of FEMA penalties as bank guarantee

The Karnataka High Court has directed Google India and three of its senior executives to deposit 50 per cent of the penalties imposed, for alleged Foreign Exchange Management Act (FEMA) violations, as bank guarantees.

The Enforcement Directorate (ED) had earlier levied a penalty of ₹5 crore on Google India and a combined penalty of ₹45 lakh on the three senior officials of the multinational tech major. The case pertains to alleged violations of section 6(3)(d) of FEMA involving transactions worth ₹364 crore.