 "ED raids 13 premises of B C Jindal Group over FEMA violation charges")
Don't want to miss the best from Business Standard?
The Enforcement Directorate (ED) on Thursday conducted searches against the B C Jindal Group of companies on charges of violation of the foreign exchange law, official sources said.
They said at least 13 premises of the directors and officials of the group located in Delhi-NCR and Hyderabad are being searched under the provisions of the Foreign Exchange Management Act (FEMA).
The ED is investigating suspected FEMA violations by the group entities of the company such as Jindal India Thermal Power Ltd. and Jindal India Powertech Ltd. for its overseas investments and parking of funds in their overseas entities, the sources said.
The company could not be contacted immediately for comment on the ED action.
The business conglomerate has recorded an annual turnover of over Rs 18,000 crore and is a major player in the power sector.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app