ED raids linked to FEMA violations, but we sought permission for overseas investment: Jarikiholi

Karnataka Minister Satish Jarikiholi has responded to ED raids linked to Foreign Exchange Management Act (FEMA) violations, stating that his group only sought permission to invest abroad. Jarikiholi alleged that enforcement action disproportionately targets smaller players while bigger offenders go unpunished.

The Minister criticized what he described as selective targeting, claiming the pattern favours well-connected individuals at the expense of others.