RBI imposes ₹4.8 crore fine on BPTP over FDI diversion

The Reserve Bank of India has announced a hefty fine of ₹4.8 crore against BPTP Ltd due to breaches of FEMA regulations concerning foreign direct investment from the years 2007 and 2008. The company will pay ₹4 crore, and its two directors will each incur a penalty of ₹40.36 lakh.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/OY9Qqcu
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Enforcement directorate search at TDI’s Mohali office ends after 53 hours

Following a thorough 53-hour operation, the Enforcement Directorate has concluded its search at TDI House concerning land acquisition irregularities. During this time, officials examined numerous land documents, records, and digital files while questioning on-site staff. The investigation targets two key areas: excessive compensation and a fraudulent government fund scheme. As of now, the ED has yet to release any official updates on the findings of this significant search.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/n597BgC
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