Mumbai, June 2 -- The Enforcement Directorate (ED) carried out searches at the Mumbai and Delhi offices of the Anil Agarwal-led Vedanta Group on Tuesday, supposedly to investigate suspected breaches of the Foreign Exchange Management Act (FEMA).
According to the ED, the focus of its probe is about how money moves between Vedanta Ltd and its parent company, Vedanta Resources, which is headquartered in the United Kingdom.
The main focus of the ED investigation is the alleged "brand fee" payments made by some Vedanta group companies to their parent company Vedanta Resources, according to the ED.
The investigation is being conducted to determine whether these payments for use of the brand took place as per FEMA rules or in violation of FEMA ...