ED launches search operations at 13 premises of B C Jindal group over suspected FEMA violations

Sep 18, 2025

Synopsis
The Enforcement Directorate (ED) on Thursday searched 13 locations in Delhi-NCR and Hyderabad linked to B C Jindal group companies, including Jindal India Thermal Power Ltd. and Jindal India Powertech Ltd., over suspected FEMA violations tied to overseas investments and alleged parking of funds in their foreign entities.

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.

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).

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 business conglomerate has recorded an annual turnover of over Rs 18,000 crore and is a major player in the power sector.

[The Economic Times]