Enforcement Directorate Raids Jindal Steel And Power Offices: Report

The federal Enforcement Directorate (ED) also conducted searches in Gurgaon, a satellite town near the capital's main airport, the source said.

The federal financial crime fighting agency raided offices of Jindal Steel & Power Ltd (JSPL) in New Delhi on Thursday over suspected violation of foreign exchange regulations, a source familiar with the matter said.

The federal Enforcement Directorate (ED) also conducted searches in Gurgaon, a satellite town near the capital's main airport, the source said.

Jindal Steel shares plunged as much as 6% to a three-week low in their biggest fall since mid-March.

The company did not immediately respond to a Reuters request for comment on the searches.