The Enforcement Directorate has conducted searches at premises linked to Vedanta Group as part of an investigation into alleged violations under the Foreign Exchange Management Act (FEMA), officials said on Tuesday.
The searches were carried out on Monday at multiple locations, including Delhi and Rajasthan, as the federal agency initiated a foreign exchange violation probe against the global mining conglomerate promoted by billionaire Anil Agarwal.
Officials said the investigation pertains to alleged contraventions under FEMA’s civil provisions.
Confirming the ED action, a Vedanta spokesperson said the company was cooperating with investigators.
“The company is 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," the spokesperson said.
Vedanta Ltd is a major producer of metals and critical minerals, with operations spread across India, Africa, the Middle East and East Asia.
(With inputs from PTI)