The Karnataka High Court has instructed Google India and its executives to provide bank guarantees covering 50% of the penalties levied for alleged FEMA violations. These penalties, totaling Rs 5.45 crore, stem from transactions involving distributor fees to Google Ireland and equipment purchases from Google US. The Enforcement Directorate claims these transactions, lacking RBI approval, constitute unauthorized commercial loans.
Submit bank guarantees for 50% of Rs 5cr fine over violations: HC to Google
