 "ED raids Sequoia Capital to probe Vasan investments")
The enforcement directorate (ED) has served notices on Vasan Health Care and Karti Chidambaram, son of former finance minister P Chidambaram, for breach of the Foreign Exchange Management Act (FEMA).
Vasan and its promoters got a notice for alleged violation of Rs 2,262 crore. Chidambaram and a firm reportedly under his control, Advantage Strategic Consulting, were issued notices for violation of Rs 45 crore.
ED said it had probed the foreign investments received by Vasan in the primary and secondary markets on the basis of inputs received by them about the suspected FEMA breach. It said Vasan has also not followed statutory
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