As per this report, some Anil Ambani (ADAG Group) companies have apparently violated the Central Bank guidelines regarding 'end use' of ECB raised overseas.
The stock markets ignored this news completely. ADAG group has clout and size and will get away with this, with a rap on the knuckles at worst.
And, penalty if any, will be paid by the company and NOT by the directors, who can go on with life as usual. Of course, if it was a small unknown company, the Central Bank would have put it out to dry.
In India,like in the US, white collar crime is a mere transgression. This being a RBI issue, there would be a 'prescribed' penalty. In short, when the law prescribes a financial penalty, the interpretation is that the penalty is merely the price for the violation!
Wonder why media bothers to report this at all.