Ed Raid: The Enforcement Directorate (ED) has raided some institutions supported by George Soros on Tuesday (March 18, 2025). A press release issued by the ED headquarters stated that a total of eight places in Bengaluru have been raided to investigate several institutions including EDF and Open Source Foundation. The raid has been taken to investigate the FEMA violation.
Initial investigation by the ED has revealed that Soros and his Open Society Foundation (OSF) were placed in the former reference category by the Ministry of Home Affairs in 2016, banning it from irregular donations to non-governmental organizations in India. It was told that to get rid of this ban, OSF formed assistant companies in India and money was brought to India in the form of FDI and counseling fees. This money was used to give funds to NGO activities, which is a violation of the FEMA law.
ED also searched aspada investment Private Limited
According to the information, ED is also investigating the final use of other FDI funds brought by Soros, EDF and OSF. The ED raid also includes a search of Messrs Espada Investment Private Limited, which is the SEDF Investment Advisor/Fund Manager in India and a fully owned subsidiary of the Mauritius unit.
Who is George Soros?
George Soros is an American businessman of Hungary origin. He has a lot of name in the stock markets of America and Britain. A few months ago, George Soros had a lot of discussion in India. BJP has accused George Soros of working against India. Along with this, George Soros has also been surrounded by many other controversies about India.
His statements were also criticized by the party during the Adani-Hindonburg controversy. According to the OSF, it is one of the world’s largest groups in private funding groups supporting human rights, justice and accountable government. According to official data, its total expenditure for India during 2021 was US $ 4,06,000. The OSF began working in India in 1999, offering scholarships and fellowships to students to study and research in Indian institutions.
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