India, Feb. 8 -- The Enforcement Directorate (ED) has conducted searches at five locations in the city as part of its FEMA (Foreign Exchange Management Act) probe in a case related to alleged diversion of funds by the Eros International Media Ltd, an Indian motion picture production/distribution firm, and other entities of the EROS group. The probe has under its scanner alleged transactions worth Rs.300 crore with entities in foreign jurisdictions, either directly or via entities in India, purportedly involved in content production, according to ED sources.

During the search operations at the official and residential premises of a few top officials and associates connected to the firm on Wednesday, various purported incriminating documen...