ED conducts searches against beneficiaries of George Soros' OSF, linked entities

New Delhi/Bengaluru, Mar 18 (PTI) The Enforcement Directorate on Tuesday conducted searches against some alleged beneficiaries of Open Society Foundations (OSF) founded by US billionaire George Soros, and some linked entities in Bengaluru as part of a foreign exchange "violation" probe against them, official sources said.

The premises of the beneficiaries, including those linked to some international human rights bodies, are being searched under the Foreign Exchange Management Act (FEMA), the sources said.

The case pertains to alleged foreign direct investment (FDI) being sourced by OSF and the utilisation of these funds by certain beneficiaries in alleged contravention of FEMA guidelines, they said.

A response to an email sent by PTI to OSF is awaited.

The ruling BJP has accused Soros, a Hungarian-American political activist, of acting against India's interests.

His utterances during the Adani-Hindenburg controversy also drew criticism from the party.

As per the OSF, it is one of the world's largest private funders of groups supporting human rights, justice and accountable government.

Its total expenditure for India during 2021 was USD 4,06,000, as per official data.

The OSF began working in India in 1999, offering scholarships and fellowships to students to pursue studies and research at Indian institutes.

"In 2014, we launched an India-specific grant-making programme, supporting local organisations that work in three areas: extending access to medicine; promoting justice system reforms; and strengthening and establishing rights, public services, and community living for people with psychosocial disabilities," the OSF said earlier. PTI NES ARI

Source: PTI