The FEMA investigation follows allegations that payments were remitted to foreign entities without obtaining the necessary regulatory approvals. The ED is assessing whether the transactions complied with Reserve Bank of India rules governing overseas remittances.
The agency is also examining allegations involving hawala transfers, money laundering and the possible use of shell companies. These allegations have not been established and remain subject to investigation.
The Kerala government has meanwhile decided to initiate a Vigilance inquiry into the alleged financial irregularities. The state Vigilance department is expected to examine the transactions as well as the roles of Reporter TV and officials associated with the project.
The proposed visit by Messi and the Argentina team had been promoted as a landmark event for Kerala and generated widespread excitement in a state known for its passionate football following.
However, the planned visit never took place, and the financial arrangements surrounding the project are now facing scrutiny from both central and state investigative agencies.
With IANS inputs
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