India's Enforcement Directorate searches Vedanta offices

India's Enforcement Directorate has conducted searches at multiple premises linked to the Vedanta Group as part of an investigation into potential violations of foreign exchange laws. Officials said the action, which began on Monday, targeted locations including offices in Delhi, Rajasthan, and Mumbai.

The federal agency initiated the probe under the civil provisions of the Foreign Exchange Management Act (FEMA), which governs foreign currency transactions. The exact nature of the alleged violations and the specific details of the case were not disclosed by authorities.

A spokesperson for the Anil Agarwal-promoted mining conglomerate confirmed the searches and stated the company is cooperating fully with the investigation. The spokesperson said Vedanta is providing all information sought by authorities and remains committed to compliance with applicable laws and regulations. The company declined to comment further, citing the ongoing regulatory process.

Vedanta Ltd. is a major global producer of metals and critical minerals, with operations spanning India, Africa, the Middle East, and East Asia. The scrutiny by the Enforcement Directorate follows a significant corporate...