ED searches premises linked to Mudrex, Instadapp over alleged ₹4,600-crore FEMA violations
The Enforcement Directorate (ED) has conducted searches at locations linked to Mudrex and Instadapp, two fintech firms, after allegations that they may have violated FEMA regulations by facilitating cross‑border transactions worth approximately ₹4,600 crore. The probe examines the firms’ compliance with foreign exchange rules and the legality of the transactions they processed, reviewing documents and records for potential wrongdoing.