Eighteen MNCs served notices for foreign exchange violation
By Our Economy Bureau | 07 Mar 2003
New Delhi: Eighteen multinational companies (MNCs), including Ericsson, Samsung, Sony, Nokia, Mitsubishi, Bank of Tokyo and Deutsche Bank, have been slapped show-cause notices for alleged violation of foreign exchange regulations involving over Rs 170 crore.
Other MNCs which were also issued show-cause notices for alleged violations are Japan Airlines, All Nippon Airlines, Hyundai Motor, Daewoo Motors, Motorola, LG Electronics, Sanwa Bank, Bank of Nova Scotia, Sakura Bank and Fuji Bank.