India


ED raids premises of Anil Agarwal-led Vedanta group

New Delhi, June 2 (UNI) The Enforcement Directorate (ED) on Tuesday raided the premises of the Anil Agarwal-led Vedanta group pertaining to alleged violation of the Foreign Exchange Management Act (FEMA) rules pertaining to royalty payments.
These searches pertain to a probe into the royalty payment made by Vedanta to its parent company, Vedanta Resources. The searches are being conducted at Vedanta offices in Mumbai and Delhi.
The development comes at a time when the company is in the process of implementing a demerger.
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