ED raids Satat Sampada Pvt Ltd in Delhi, Ghaziabad over FEMA probe

The Enforcement Directorate (ED) has launched searches at multiple locations in Delhi and Ghaziabad linked to Satat Sampada Pvt Ltd. The probe, under FEMA, investigates foreign funds from NGOs allegedly used to influence government energy policies.

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.

Details of the ED Operation

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.

Focus of the Investigation

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.

Scrutiny of Records and Statements

"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.

Future Course of Action

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)

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