India’s Enforcement Directorate (ED) has conducted searches at multiple locations in Bengaluru as part of an ongoing investigation into alleged foreign exchange violations involving the Open Society Foundations (OSF), founded by U.S. philanthropist George Soros, and its impact investment arm, the Soros Economic Development Fund (SEDF).
According to reports from Indian media outlets, the searches were carried out under the Foreign Exchange Management Act (FEMA). Authorities are examining whether funds brought into India by OSF-related entities complied with regulations governing foreign direct investment (FDI) and financial transfers to non-governmental organizations.
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