ED Raids at India Cements Office, FEMA Violation Suspected
India Cements Ltd Shares Plunge Amid ED Search This blog post discusses the recent plunge in the shares of India Cements Ltd following an ED search at the company's premises for alleged FEMA violations. It provides details about the impact on share prices, surge in trading volumes, and the upcoming board meeting. The post is updated with the latest developments and is a must-read for investors and market watchers. {jistoc} $title={Table of Contents} India Cements Ltd , led by former BCCI Chairman N Srinivasan , saw its shares plummet by more than 9% during Thursday's trading session. This sharp decline came in the wake of reports that the Enforcement Directorate (ED) had conducted searches at the company's premises in Chennai. ED Search for FEMA Violations According to media reports, the ED has been investigating the company for violations of the Foreign Exchange Management Act (FEMA). The reports suggest that the ED is expecting to uncover FEMA violation...