New Delhi, Feb. 16 -- The Enforcement Directorate (ED) has imposed a penalty of Rs 184 crore on PPK Newsclick Studio Pvt Ltd and its director, Prabir Purkayastha, for alleged violations of the Foreign Exchange Management Act (FEMA), 1999.

Of the total, a penalty of Rs 120 crore has been imposed on the company and Rs 64 crore levied on Purkayastha under Section 42 of FEMA, holding him responsible for the conduct of the company's business during the relevant period.

ED said the adjudicating authority under FEMA passed an order dated February 16 under the provisions of the Foreign Exchange Management Act, 1999, in an adjudication proceeding in the case of PPK Newsclick Studio Pvt Ltd relating to violations of foreign exchange law involving...