NEW DELHI: The Enforcement Directorate (ED) has conducted searches against the Vedanta Group as part of an investigation under the Foreign Exchange Management Act (FEMA), officials said on Tuesday.
Sources said the action against the mining conglomerate, promoted by billionaire industrialist Anil Agarwal, was initiated on Monday.
According to officials, the searches were carried out after the central agency launched a FEMA probe into the company. Further details of the investigation are yet to be disclosed.
Vedanta Spokesperson said, "We are extending full cooperation to the authorities and are providing all information sought. The company remains committed to compliance with all applicable laws and regulations. As the matter is currently under regulatory process, we are unable to comment further at this stage."
(With agency inputs)The TOI City Desk is an indefatigable team of journalists dedicat...
Read MoreThe TOI City Desk is an indefatigable team of journalists dedicated to bringing you the pulse of cities from across the nation, all day and all night. Our mission is to curate, report, and deliver city news that matters to readers of The Times of India. With a keen focus on urban life, governance, culture, and local issues, we provide a comprehensive view of the ever-evolving cityscapes. Our team works tirelessly to keep readers informed about the latest developments, ensuring that they are connected to the heartbeat of cities across India, right when it happens. The TOI City Desk is a trusted source for staying in touch with the local stories that shape your world.
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