https://www.taxtmi.com/news?id=40873 Karnataka High Court ordered Google India and three executives to deposit bank guarantees equal to 50% of ED-imposed penalties within two weeks, arising from alleged FEMA violations that the ED characterised as foreign commercial loans requiring RBI approval. The ED's allegations concern unpaid distributor fees and equipment payments to overseas affiliates; Google India contests the loan classification, denying loan terms, deferred payments or interest and citing an RBI circular. The court issued the guarantee directive while appeals from an earlier tribunal stay remain pending. en-us Tue, 15 Apr 2025 11:01:03 +0530 Tue, 15 Apr 2025 11:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=40873 Karnataka High Court ordered Google India and three executives to deposit bank guarantees equal to 50% of ED-imposed penalties within two weeks, arising from alleged FEMA violations that the ED characterised as foreign commercial loans requiring RBI approval. The ED's allegations concern unpaid distributor fees and equipment payments to overseas affiliates; Google India contests the loan classification, denying loan terms, deferred payments or interest and citing an RBI circular. The court issued the guarantee directive while appeals from an earlier tribunal stay remain pending. News - Tue, 15 Apr 2025 11:01:03 +0530 https://www.taxtmi.com/news?id=40873