An investment deal struck by the India Today group is under Enforcement Directorate (ED) scanner over alleged FEMA (Foreign Exchange Management Act) violation, report by Asianet suggests. The investigation has been on since a year as per reports.
India Today group reportedly received investment from abroad for their Mail Today venture and in past few months several top management members were called for questioning. The first summons were sent in August 2020 but the investigation slowed down because of the second wave of coronavirus pandemic. Citing reports, Asianet reported that the officials are scanning accounts which received the investment.
The management has till now cooperated with the probe and responded to summons. If there is FEMA violation, the group could face a penalty. India Today group is also under probe over money laundering allegations in fake TRP case last year.
