New Delhi, Sep 24 (UNI) The Enforcement Directorate (ED) said today that it recently conducted search operations under the Foreign Exchange Management Act (FEMA) at thirteen premises connected to the group companies of BC Jindal and Shyam Sunder Jindal, its directors, and other officers. The premises searched were located in Delhi NCR and Hyderabad.

The searches were conducted over suspected FEMA violations by the BC Jindal group entities, especially Jindal India Thermal Power Ltd. (JITPL), Jindal India Powertech Ltd., and Jindal Polyfilms Ltd., concerning their overseas investments, the alleged parking of funds in their own overseas entities, and the round tripping of funds.

The ED initiated the investigation based on specific input that BC Jindal Group entities, beneficially owned by

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