The Enforcement Directorate on Tuesday searched the premises of United States billionaire George Soros-backed Open Society Foundations (OSF) and some linked entities in Bengaluru as part of a foreign exchange “violation” investigation against them, official sources said.
IMAGE: Billionaire George Soros. Photograph: @georgesoros/X
The premises of OSF and some international human rights organisations are being searched under the Foreign Exchange Management Act (FEMA), the sources said.
The case pertains to alleged foreign direct investment (FDI) being sourced by OSF and the utilisation of these funds by certain beneficiaries in alleged contravention of FEMA guidelines, they said.
OSF could not be contacted immediately for comment on the ED action.
Soros, a Hungarian-American political activist, and his organisations like OSF have been accused by the ruling BJP of acting against India’s interests. His utterances during the Adani-Hindenburg controversy also drew criticism from the party.
OSF began operations in India in 1999.
