ED conducts searches in Delhi, Ghaziabad in FEMA probe against Satat Sampada Pvt Ltd

New Delhi [India], January 5 (ANI): The Enforcement Directorate (ED) on Monday carried out searches at multiple locations in Delhi and Ghaziabad in connection with an investigation against Satat Sampada Pvt Ltd under the provisions of the Foreign Exchange Management Act (FEMA), officials said.
The searches are being conducted by the headquarters unit of the ED, covering four premises--one office, one business store, and two residential locations linked to the company and its key functionaries.
"The searches are part of an ongoing probe into alleged violations related to the receipt and utilisation of foreign exchange funds," said the officials, requesting anonymity as the operation was on.
Officials said "the central focus of the investigation is to examine the end use of foreign funds allegedly received by Satat Sampada Pvt Ltd from foreign non-governmental organisations (NGOs) and influence groups."
"These funds were reportedly routed in the name of consultancy charges. However, preliminary findings have raised suspicions that the money may have been used for purposes other than those declared."
The ED is probing whether the company received foreign funding to run specific narratives aimed at influencing government policies, particularly in the energy sector.
"Investigators are scrutinising financial records, agreements, bank transactions and communication documents to ascertain whether there has been any contravention of FEMA norms," they said.
Sources indicated that the agency is also analysing the nature of consultancy services claimed by the company and whether these services were genuine or merely a front to channel foreign funds. Statements of individuals connected with the firm may also be recorded as part of the investigation.
The searches are still underway, and officials said further action would depend on the evidence collected during the operation.
The ED has not ruled out widening the probe if additional links or entities emerge during the course of the investigation. (ANI)