The Enforcement Directorate (ED) officials had on Thursday visited office premises of Jindal Steel and Power Limited (JSPL) in Delhi and neighbouring Gurugram as part of the investigation being conducted under provisions of the Foreign Exchange Management Act (FEMA).
Congress termed ED raids on industrialist Naveen Jindal as a ‘witch-hunt’Cong alleged that India has turned into a police state under the BJPED visited office premises of Jindal Steel and Power Limited (JSPL)
The Congress on Friday termed the ED raids on industrialist Naveen Jindal as a “witch-hunt”, and alleged that India has turned into a police state under the BJP government. The Enforcement Directorate on Thursday conducted searches at the premises of Jindal’s company JSPL in connection with a probe linked to alleged violation of foreign exchange regulations.
“The witch-hunt of Congress leader and prominent industrialist, Naveen Jindal proves that India has turned into a police state. ‘Ease of Business’ has now become ‘Ease of Harassment’ by stifling the voices,” charged Congress general secretary and chief spokesperson Randeep Surjewala.
Agency officials had on Thursday visited office premises of Jindal Steel and Power Limited (JSPL) in Delhi and neighbouring Gurugram as part of the investigation being conducted under provisions of the Foreign Exchange Management Act (FEMA).
The company has said in a statement that it had an “exemplary track record of corporate governance and (it was) disclosing the required information to the regulators and will continue to do so”.
The ED sleuths raided JSPL’s offices in Delhi and adjoining city of Gurugram in Haryana to reportedly lay their hands on evidence of any alleged violation of Foreign Exchange Management Act (FEMA). The officials, however, are not will to share the outcome of the searches.
JSPL, however, stated in an official statement that the ED visited both their offices “for seeking business-related information, which is being provided to them”.
“We would like to reiterate here that the company has an exemplary track record of corporate governance and disclosing the required information to the regulators and will continue to do so,” Anoop Singh Juneja, Company Secretary and Compliance Officer of JSPL submitted before the National Stock Exchange of India Limited and BSE Limited.
The stocks of Jindal fell over 5 per cent following the ED action, which began on Thursday morning.
