World
India
The Enforcement Directorate (ED) conducted searches on Tuesday at the offices of U.S. billionaire George Soros-backed Open Society Foundations (OSF) and related entities in Bengaluru. The searches are part of an ongoing investigation into alleged foreign exchange violations, official sources confirmed.
According to ED officials, the raids were carried out under the Foreign Exchange Management Act (FEMA) to examine suspected irregularities in foreign direct investment (FDI) linked to OSF. Authorities are scrutinizing how funds were received and utilized by certain beneficiaries, suspecting potential breaches of FEMA regulations.
The probe focuses on financial transactions and fund allocations involving OSF and other international human rights organizations operating in India. The agency is assessing whether these entities followed legal guidelines while handling foreign funds.
OSF has yet to issue a statement regarding the ED’s action.
George Soros, a Hungarian-American political activist, has been a controversial figure in Indian political circles. His organizations, including OSF, have been accused by the ruling Bharatiya Janata Party (BJP) of allegedly working against India’s interests. His remarks during the Adani-Hindenburg controversy had previously drawn sharp criticism from the BJP.
OSF has been active in India since 1999, funding various initiatives related to human rights, education, and governance. The ED’s latest action adds to growing scrutiny of foreign funding in India’s non-profit sector.
