New Delhi, 2/4: In mid-March, the Enforcement Directorate (ED) had raided eight locations linked to three Bengaluru-based companies that received funds from the US nonprofit Open Society Foundations (OSF), which is backed by US billionaire George Soros, in alleged contravention of Foreign Exchange Management Act (FEMA) rules.
The raids in March came after OSF transferred Rs 25 crore to the companies in “suspicious” transactions in the past few months