New Delhi, Aug. 29 -- The Enforcement Directorate (ED) today said its sleuths recently conducted search operations at various places in NCR in connection with a FEMA case related to Faridabad-based real estate firm BPTP LtdInvestigations under FEMA were initiated based on information that BPTP Ltd. received Foreign Direct Investment (FDI) amounting to more than Rs. 500 Crore (INR Equivalent) from Mauritius-based entities in violation of prevailing FEMA rules and regulations.
The search operations were carried out by its Gurugram zone office.
"The search operations were carried out at the offices of BPTP Ltd. and the residences of its Chairman and Managing Director, Kabul Chawla and Whole-Time Director, Sudhanshu Tripathi," said an ED offi...