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The Enforcement Directorate on Tuesday conducted raids on Vedanta Group under the Foreign Exchange Management Act (FEMA), officials said. The exact nature of alleged violations has not been specified by the agency.
Confirming the raid, a Vedanta Spokesperson said that the company is extending full cooperation and providing all information sought by ED. "We are 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," Vedanta Spokesperson said. Vedanta Limited is one of India's leading diversified natural resources company -- producing zinc, aluminium, copper, iron ore, oil & gas, steel and power. More details awaited. (ANI)
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