ED ends Fema probe of APOLLO after settlement
New Delhi, June 18 -- The Enforcement Directorate (ED) said on Wednesday that a Foreign Exchange Management Act (FEMA) violation probe against Apollo Hospitals and its five directors has been "terminated" after a one-time settlement of Rs.17.76 crore for the company and Rs.18 lakh each for the directors for compounding the offence. ED, in a release, said the Reserve Bank of India issued a compounding order in the case against Apollo and directors - Preetha Reddy, Suneetha Reddy, S K Venkatraman, Akhileswaran Krishnan and S M Krishnan - after the agency issued a "no objection certificate" for the same. The alleged four-point contraventions which were finalised for adjudication under the FEMA post the investigation totalled more than Rs.2,424...
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