Overview
- The adjudicating authority imposed ₹120 crore on PPK Newsclick Studio Pvt. Ltd. and ₹64 crore on director Prabir Purkayastha.
- The order cites about ₹9.59 crore in FDI during 2018–19 obtained through misrepresentation and ₹82.63 crore in foreign remittances misclassified as export receipts, including missing SOFTEX filings.
- The authority described the contraventions as substantial, deliberate and systemic, saying transactions were structured to defeat the foreign‑exchange regulatory framework.
- Penalties were levied under Section 13(1) of FEMA, with Purkayastha found personally liable under Section 42 as the person in charge during the relevant period.
- The action follows ED searches of NewsClick in 2021 and related probes by enforcement and police agencies, while Purkayastha said he has not yet received the order and will contest it.