Enforcement Directorate conducts searches at six Bengaluru locations in FEMA probe
The Enforcement Directorate (ED) searched six locations in Bengaluru as part of an investigation into potential violations of the Foreign Exchange Management Act (FEMA). The Hindu reported that the ED detected violations worth ₹2,500 crore. According to whalesbook.com, the searches targeted Transak Technology India Pvt. Ltd., Carretx Technologies Pvt. Ltd., Mokshagna Technologies Pvt. Ltd., Buŷ̂
The Enforcement Directorate (ED) searched six locations in Bengaluru as part of an investigation into potential violations of the Foreign Exchange Management Act (FEMA). The Hindu reported that the ED detected violations worth ₹2,500 crore.
The searches targeted Transak Technology India Pvt. Ltd., Carretx Technologies Pvt. Ltd., Mokshagna Technologies Pvt. Ltd., Buyhatke Internet Pvt. Ltd., and Abhibha Technologies Pvt. Ltd., which operate crypto platforms such as Transak, Carret and Onramp.money, according to whalesbook.com.
Whalesbook.com reported that the alleged unauthorized cross‑border money transfers involved amounts exceeding Rs 2,500 crore.
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