ED searches India Cements offices in FEMA probe

The Enforcement Directorate has conducted searches at the offices of leading Chennai-based cement manufacturer– India Cements Ltd.– as part of a foreign exchange violation investigation, official sources said on Thursday.

The searches were launched on Wednesday at two office premises of the company in Chennai and one in Delhi, under the provisions of the Foreign Exchange Management Act (FEMA), the sources said.

The company said in a regulatory filing that it was cooperating with the federal probe agency.