ED raids JSPL premises in Delhi, Gurugram over forex violation

The Enforcement Directorate on Thursday conducted searches at the premises of industrialist Naveen Jindal's company JSPL in connection with a probe linked to alleged violation of foreign exchange regulations, officials said.

They said the agency officials 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).

Later, the company 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."


"We would like to bring to your notice that our office premises in Delhi and Gurugram have been visited today by the officials from Enforcement Directorate for seeking business related information, which is being provided to them," the statement said.

Part of O P Jindal Group, JSPL has a significant presence in the steel, power, and mining sectors, with investments worth around Rs 90,000 crore across the globe.

Naveen Jindal, a former MP, is the chairman of JSPL.