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ED slaps Rs 230 crore fine on PwC for FEMA violations

Monday, September 16, 2019, 6:18 PM

The Enforcement Directorate's (ED) adjudicating authority slapped a Rs.230.40 crore penalty for the Foreign Exchange Management Act (FEMA) violation on global accounting firm PricewaterhouseCoopers (PwC) and six others, officials said on Monday. The ED's Special Director (Eastern Region), which is the adjudicating authority, slapped the fine. The ED last week had slapped a show-cause penalty notice on the firm and others under the FEMA.