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'Google, Yahoo under scanner for forex violation'

Notices have been sent to the Indian units that they are being investigated for potential violations, a report said. It cited a senior official at a division of finance ministry, which monitors foreign exchange transactions and money-laundering activities.

business Updated: Feb 14, 2012 12:27 IST

The government is investigating whether the Indian units of US 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 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.