Former Amnesty India chief slapped with Rs10cr fine for forex violation
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New Delhi: The Enforcement Directorate has slapped a fine of Rs 51.72 crore and Rs10 crore respectively on former CEO Aakar Patel on the charge of violating the Foreign Contribution Regulation Act (FCRA).
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.