Bennett coleman, Media company

New Delhi, July 8 The Enforcement Directorate (ED) has questioned the top managers of Bennett Coleman and Company Limited (BCCL), a media giant, which has a number of publications, such as Times of India, sources said.Sources have said that the top managers of the firm were questioned by the ED on several occasions in connection with alleged violation of the Foreign Exchange Management Act (FEMA).A few firms based in the British Virgin Islands were dealing with BCCL. The ED has found transactions of about Rs 900 crore, which are now under the lens of the anti-money laundering agency.MX Media Co Ltd was incorporated in the British Virgin Island and it was initially shown as a subsidiary firm. The parent company had 52.35 per cent equity. Later on the equity of the parent firm diluted to 40.36 per cent and the MX Media Co Ltd was made an associate firm.A few other companies of the BCCL were incorporated in South Korea, China and Singapore. BCCL revenue also fell down during the Covid pandemic to 44 per cent.The ED officials did not comment on the matter.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Bennett coleman, Latest News

Business :Bennett University awards 709 degrees on its 4th Annual Convocation 2022

Bennett University, The Times Group, hosted its fourth annual convocation ceremony on Saturday, October 15th, at Bennett University Campus, with 709 students graduating in person and absentia with degress in Computer Science Engineering, Applied Scie ...

National :Big media group's top management questioned by ED in alleged FEMA violation

New Delhi, July 8 The Enforcement Directorate (ED) has questioned the top managers of Bennett Coleman and Company ... ...