Enforcement Directorate (ED) has sent Rs. 100 crore penalty notice to Shilpa Shetty own IPL franchise Rajasthan Royals for alleged FEMA infringement on Monday.
After two years of investigation, the ED has sent three separate notices under Foreign Exchange Management Act (FEMA) to Rajasthan Royals of Rs 98.5 crore+.
Rajasthan Royals can apply against this penalty order.
Tags: enforcement directorate fema violations foreign exchange management act Indian Premier League IPL IPL franchise Rajasthan Royals Shilpa Shetty