FEMA case: ED conducts searches against Vedanta Group

NEW DELHI: The Enforcement Directorate (ED) has conducted searches against the Vedanta Group as part of an investigation under the Foreign Exchange Management Act (FEMA), officials said on Tuesday.Sources said the action against the mining conglomerate, promoted by billionaire industrialist Anil Agarwal, was initiated on Monday.According to officials, the searches were carried out after the central agency launched a FEMA probe into the company. Further details of the investigation are yet to be disclosed.Vedanta Spokesperson said, "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."(With agency inputs)