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India investigates Google & Yahoo for violated foreign exchange laws.

Google and YahooThe government is examining whether the Indian units of US Internet giants Google Inc and Yahoo Inc may have violated the country’s foreign exchange laws, the reports said.

Notices have been sent to the Indian units that they are being investigated for latent violations, the paper said. It cited a senior official at a division of finance ministry, which examines foreign exchange transactions and money-laundering activities.

A spokesman for Google in India said that the company has not yet received the notice and so could not comment on precise details, the reports said. Neither Google nor Yahoo in India was available for comment when contacted.

The Enforcement Directorate issued on Friday a foreign exchange violation notice to Google for supposed irregularities in transfer of funds to its foreign entities.

The Directorate has asked the Indian arm of the company to describe to it all the permissions the company has acquired from RBI incidentally and its source of income in the country with I-T returns filed earlier.


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