ED Raids Sequoia Capital’s Bangalore Office

The Enforcement Directorate(ED) raided Singapore based firm Sequoia Capital’s Bangalore office on late Monday night which was part of Chennai based Vasan Healthcare’s investigation, a company that Sequoia has invested in.

The ED and the Crime branch of India started investigations into Aircel-Maxis a part of 2G scam and a firm co-owned by former finance minister P Chidambaram’s son Karti Chidambaram.

Multiple government agencies had been investigating into numerous deals undertaken by Karti Chidambaram and established that Sequoia Capital was allegedly “roped in” for misuse of the foreign direct investment policy.

Earlier, ED along with the Income Tax Department had conducted searches at Vasan Healthcare and Advantage Strategic, a consulting firm which is also being investigated for violating foreign exchange laws.

Commenting on this, Sequoia tweeted:

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