<h1>Eros International Investigated for Alleged Rs 2,000-Crore Forex Violation Under FEMA; SEBI Probes Fund Siphoning Claims</h1> The Enforcement Directorate conducted searches on Eros International Media Ltd and associated entities in connection with a Rs 2,000-crore foreign exchange violation case. The searches, carried out in Mumbai, are part of an investigation under the Foreign Exchange Management Act into alleged fund diversion by Eros and its affiliates. The probe follows a SEBI investigation into financial misrepresentation and fund siphoning by the Eros group. The agency claims Eros inflated its financial statements by advancing funds to entities, which were later written off as non-recoverable due to the pandemic, using fictitious movie rights transactions to obscure these activities.