India probes Google, Yahoo for possible forex violation
Published on Tue, Feb 14, 2012 at 07:56 | Source : Reuters
Updated at Tue, Feb 14, 2012 at 12:59
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India probes Google, Yahoo for possible forex violation
The government is investigating whether the Indian units of U.S. Internet giants Google Inc and Yahoo Inc may have violated the country's foreign exchange laws, the Wall Street Journal said in report.
The government is investigating whether the Indian units of U.S. Internet giants Google Inc and Yahoo Inc may have violated the country's foreign exchange laws, the Wall Street Journal said in report.
Notices have been sent to the Indian units that they are being investigated for potential violations, the paper said. It cited a senior official at a division of India's federal finance ministry, which monitors foreign exchange transactions and money-laundering activities.
A spokesman for Google in India said the company has not yet received the notice and therefore could not comment on specific details, the Journal said in its report.
Neither Google nor Yahoo in India were available for comment when contacted by Reuters.
