Enforcement Directorate Cracks Down on Forex Violations

The Enforcement Directorate conducted searches at multiple locations as part of an investigation into alleged violations of the Foreign Exchange Management Act (FEMA). Approximately ten sites are being searched for potential breaches of foreign exchange laws. Details of the investigation are yet to be disclosed.

The Enforcement Directorate (ED) intensively searched various locations on Monday as it delves into a probe concerning foreign exchange law violations.

The operation covered around ten sites linked to a case registered under the Foreign Exchange Management Act (FEMA), according to informed sources.

The investigation is currently ongoing, with more specifics expected to emerge soon.

(With inputs from agencies.)