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Appellate tribunal cuts Fema violation penalty slapped by ED on PwC from ₹230cr to ₹81cr
An appellate tribunal has significantly reduced the penalty imposed on PwC by the Enforcement Directorate (ED) for Foreign Exchange Management Act (Fema) violations. Originally penalized Rs 230 crore for allegedly receiving illegal foreign direct investment, the tribunal slashed the fine to Rs 81 crore.
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