Abbott India pays Rs 200,000 penalty for foreign investment breach

Abbott India has been ordered by the Reserve Bank of India to pay a penalty of Rs 200,000 for breaching foreign investment regulations.

The pharmaceutical company's foreign investment exceeded the prescribed 75% sectoral cap due to secondary market transactions conducted without prior government approval, violating foreign exchange laws.

With the penalty resolved, Abbott India can now receive investments from foreign institutional investors up to the prescribed limit.