FEMA violations: Dozen locations raided in Delhi
New Delhi, Aug 24: Nearly a dozen locations were searched by the Enforcement Directorate on Thursday in Delhi in connection with its probe in a foreign exchange violation case.
Officials in the agency said business and residential premises at locations in East of Kailash, Barakhamba Road and few in south Delhi are being searched by its sleuths, under the provisions of the Foreign Exchange Management Act (FEMA).
The premises of a former MLA are also being searched. The action is on at about a dozen locations in the national capital, they said. The searches are said to be in connection with similar raids conducted by the Enforcement Directorate (ED) against a pharmaceutical firm in Gujarat recently.
The Enforcement Directorate (ED) had in July conducted raids at five places across the country In connection with Uni Pay Group's involvement in the Rs 600 crore ponzi scam. The searches were conducted at the office and residential premises of Bakshi and Singh as they are accused of having higher ranks in the ponzi firm that lured thousands of innocent investors