Realty firm IREO in forex raids

The Enforcement Directorate today raided the offices of a realty company in the NCR in connection with alleged FEMA violations.

The Enforcement Directorate today raided the offices of a realty company in the NCR in connection with alleged FEMA violations.

HT Image

Teams of ED today reached various offices of Ireo to probe into alleged violation of Foreign Exchange Management Act, finance ministry officials said.

When contacted, the company said in a statement, "Some Officials from the Department of Revenue have approached Ireo for certain information and clarifications, which are being duly responded to. Ireo remains committed to fully cooperate with the authorities, like always."