ED raids Vedanta-linked premises in FEMA probe
New Delhi, June 3 -- The Enforcement Directorate (ED) on Tuesday carried out searches at premises which are linked to billionaire Anil Agarwal's Vedanta Group as part of its probe into alleged violations of the foreign exchange management act (FEMA), officials said.
The searches at certain premises of the conglomerate, including in Delhi and Mumbai, were launched on Monday and continued on Tuesday, they added. The agency did not disclose the specific allegations or details of the raids, but officials familiar with the matter said the action was being taken under the under the civil provisions of FEMA, which regulates foreign exchange and cross-border transactions.
"An instance of Vedanta Resources, the London-based parent of Indian company ...
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