Jindal Steel shares plunged 6 per cent to a three-week low in their biggest fall since mid-March
The Enforcement Directorate (ED) on Thursday carried out searches at multiple premises of Jindal Steel and Power Ltd (JSPL) and also places linked to its chairman, Naveen Jindal, for possible violations of forex rules, said officials of the agency.
“There are two-three separate cases going on under the Foreign Exchange Management Act (FEMA). Some are related to its (JSPL’s) owner/promoter’s bank accounts overseas,” an official privy to the case told Business Standard.
Sleuths searched locations in Delhi and Gurugram. They will cover some more places and the searches will continue for a day or two, an official said.
First Published: Apr 21 2022 | 10:39 PM IST