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FEMA violation: PC Financial Services fined ₹2,146 crore for FEMA violations linked to Chinese ownership | Hyderabad News

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HYDERABAD: The adjudicating authority of the Enforcement Directorate has imposed a fine of `2,146 crore on PC Financial Services Private Limited (PCFS), a non-banking financial company, operating a loan application allegedly linked to Chinese and Norwegian entities for violations of the Foreign Exchange Management Act. This is the first such case w

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