ED enforced a penalty of Rs. 51.72 Crore on Amnesty India and Rs.10 Crore on CEO Shri Aakar Patel
The Judicial Authority of ED has enforced a penalty of Rs. 51.72 Crores on Amnesty India International Pvt. Ltd and Rs. 10 Crore on CEO Shri Aakar Patel on Friday.
Recently, in late June, the private company was allegedly accused of using various commercial methods such as service contract, advance income and FDI amid which, it automatically gained Rs 36 Crores as FDI.
However, the funds were received from UK based entities without any records given to the ministry of Home affairs and in violation of the Foreign contribution.
Henceforth, in late June, ED summoned CEO Aakar Patel along with other two points in the chain for a money laundering case. The case was registered on a complaint by the Enforcement Directorate (ED).
Moreover, on Friday, ED imposed the penalty on Amnesty India International Pvt. Ltd in related with this case.
Amnesty India International was a country unit which got shut down in Sept 2020 when all the bank accounts were freezed.
The private sector was a part of the global movement which protected human rights and dignity which is headquartered in Bangalore City, India.
The Adjudicating Authority of ED has adjudicated a SCN issued to M/s Amnesty India International Pvt. Ltd.(AIIPL) and its CEO Shri Aakar Patel for contravention of the provisions of FEMA and imposed penalty of Rs. 51.72 Crore and Rs 10 Crore respectively.
— ED (@dir_ed) July 8, 2022
