ED Conducts Raids On BC Jindal Group Over Suspected Foreign Exchange Violations

2025-09-18 03:19:40

(MENAFN- Live Mint) 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).

Also Read | Urvashi Rautela, Mimi Chakraborty summoned by ED in illegal betting app case

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 ₹18,000 crore and is a major player in the power sector.

Also Read | 'Wanted' actor Prakash Raj appears before ED in alleged betting app case | Watch Another ED Raid

The Enforcement Directorate (ED) on Thursday conducted searches in multiple states as part of its money laundering investigation into an alleged ₹3,500 crore liquor scam in Andhra Pradesh, officials said.

At least 20 locations across Telangana, Andhra Pradesh, Tamil Nadu, Karnataka and Delhi-NCR linked to entities and individuals who allegedly facilitated payment of kickbacks through bogus/inflated invoices were searched.

Also Read | ED conducts raids in Chhangur Baba religious conversion case across 14 locations

Premises related to some accused persons are also being searched, they said.

Those covered include Arete Institute of Medical Sciences, Shree Jewellers Eximp, N R Udhyog LLP; The India Fruits Pvt. Ltd. (Chennai), Venkateshwara Packaging, Suvarna Durga Bottles, Rao Saheb Boorugu Mahadev Jewellers, Ushodaya Enterprises and Mohan Lal Jewellers (Chennai)., as per the officials.

MENAFN18092025007365015876ID1110078146

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.