In compliance with FEMA rules in DOCOMO case: Tata Sons

In a fresh twist to the battle between the Tata Group and its estranged partner DOCOMO, CNBC-TV18 learns that the Enforcement Directorate might be looking into the billion-dollar deal for alleged Foreign Exchange Management Act (FEMA) violations, reports CNBC-TV18.

Tata Sons is, however, refuting the allegations saying the company is in compliance with the Reserve Bank of India (RBI) rules on the case and not aware of any reference to the ED in the case.

The company said the pact between the company and DOCOMO is governed by the laws of India and has an express clause where both parties have agreed not to violate FEMA norms.

No remittance of foreign exchange has taken place, a Tata Sons Spokesperson said.Watch video for more.