Karnataka HC directs Google India, executives to furnish 50 per cent of FEMA penalties as bank guarantee

BENGALURU: 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 Rs 5 crore on Google India, along with a combined penalty of Rs 45 lakh on the three officials.

The case pertains to alleged violations of section 6(3)(d) of FEMA, involving transactions worth Rs 364 crore.