RBI closes FEMA case against Apollo Hospitals after ₹17.76 cr compounding settlement
RBI has settled FEMA proceedings against Apollo Hospitals for ₹17.76 crore, resolving alleged breaches spanning ₹859.87 cr FDI in prohibited retail trading, ₹870.66 cr multi-brand retail cap violations, ₹70.02 cr FCCB issuance, and FII-PIS limit overruns. Each director paid ₹18 lakh.
RBI closed FEMA proceedings against Apollo Hospitals after a ₹17.76 crore compounding settlement covering alleged FDI breaches including foreign investment in prohibited retail trading, FCCB issuance, FII-PIS limits, and multi-brand retail sectoral cap violations.