The Enforcement Directorate has raided 8 premises linked to the Open Society Foundation by George Soros. As per reports, the premises of some organisations linked to Soros are being investigated for alleged FEMA violations.
Preliminary investigation by ED has revealed that Soros OSF was put under Prior Reference Category by MHA in 2016 thereby restricting it from giving unregulated donations to NGOs in India, the ED has stated.
ED headquarters, Delhi is conducting searches under FEMA, 1999 at eight premises in Bengaluru to investigate the FEMA contraventions by Soros EDF and Open Source Foundation. Preliminary investigation by ED has revealed that Soros OSF was put under Prior Reference Category by MHA…
— ANI (@ANI) March 18, 2025
The ED further stated that Soros’ OSF had been trying to bypass the regulations and restrictions by bringing in funds through FDI and consultancy fees, and using the money to fund certain NGOs in India, in contravention to Indian laws.
ED is also examining the end use of other FDI funds brought in by Soros EDF and OSF. ED searches also include search on Aspada Investments Pvt Ltd which is the investment advisor/fund manager of SEDF in India and is a wholly owned subsidiary of a Mauritius entity,” the ED statement added.
