Directorate for enforcement (ED) on Thursday performed a search against BC Jindal Group of Companies regarding accusations of violating the foreign exchange law, the official sources said.
They said that at least 13 premises of directors and officials of the group based in Delhi-NCR and Hyderabad are sought according to the provisions of the Foreign Forendum Act (FEMA).
ED investigates suspected violations of femo by the group entities such as Jindal India Thermal Power Ltd. and Jindal India PowerTech Ltd. For their overseas investment and parking of funds in their overseas subjections, sources said.
The company could not be contacted immediately to comment on the ED action.
Business conglomerate recorded an annual turnover £18 000 crore and is the main player in the energy sector.
Another Ed Raid
Directorate for enforcement of law (ed) on Thursday made searches in multiple states in their investigation of the money alleged £3,500 fraud with Crore alcohol in Andhra Pradesh, the officials said.
At least 20 seats across Telangana, Andhra Pradesh, Tamil Nadu, Karnataka and Delhi-NCR associated with entities and individuals who allegedly facilitated the payment of commissions through false/inflated invoices.
The premises related to some accused are also searched, they said.
The covers include the Arete Institute of Medical Sciences, Shree Jewelers Eximp, NR Udhyog LLP; India fruit pvt. Ltd. (Chennai), Package of Venkateshwara, Suvarna Durga bottles, Rao Saheb Boorugu Mahadev Jewelers, Ushodaya Enterprises and Mohan Lal Jewelers (Chennai).
(Tagstotranslate) Directorate for Pravo enforcement (T) BC Jindal Group (T) Foreign Exchange Act (T) Act on Foreign Foreign proceedings (T)
