The Enforcement Directorate is probing money laundering cases against Bharti Airtel, the Minister of State for Finance, Mr S.S. Palanimanickam, informed the Rajya Sabha today.
“Directorate of Enforcement is investigating cases under the provisions of Prevention of Money Laundering Act, 2002, and Foreign Exchange Management Act, 1999, involving Bharti Airtel Ltd,” he said in a written reply.
The Minister, however, did not provide additional information, saying, “It may not be in the interest of the ongoing investigations to provide any further details.”
Bharti Airtel is the country’s largest private telecom company, which offers mobile phone services under ‘Airtel’ It has operations in several other countries, including Africa.
Bharti Airtel shares were trading at Rs 305.7, down 0.57 per cent from yesterday’s close at BSE.