World
India
The Enforcement Directorate (ED) has discovered that ASAR Social Impact Advisors, a Bengaluru-based company under investigation for alleged funding ties to the Soros Foundation, received ₹8 crore as an inward remittance from USAID. The US-based foreign aid agency was previously under scrutiny during Donald Trump’s administration.
This development is part of an ongoing probe into alleged foreign exchange violations involving billionaire George Soros’ Open Society Foundations (OSF) and its investment arm, the Economic Development Fund (EDF). According to reports, the ED had searched eight locations in March, targeting organizations suspected of receiving funds from OSF and EDF, including international human rights groups.
ED sources stated that ASAR Social Impact Advisors explained the ₹8 crore remittance as reimbursement for services provided to the Council on Energy, Environment and Water (CEEW), a Delhi-based think tank. However, the ED is now investigating the specifics of these services and ASAR’s financial links with USAID.
CEEW Denies Any Links to George Soros or OSF
In response to media reports, CEEW has strongly denied any association with George Soros or the Open Society Foundations. In a statement to NewsX, CEEW clarified:
“CEEW has no link to George Soros or the Open Society Foundations. CEEW has never had any association or received any funding from George Soros or OSF. ASAR Social Impact Advisors was contracted by CEEW for a USAID project related to cleaner air, which has now ended. CEEW currently has no relationship with ASAR. Additionally, we have not received any inquiries from government authorities regarding ASAR.”
CEEW further emphasized its commitment to conducting independent and rigorous research, stating that its work aligns with India’s sustainable development goals. The organization reiterated that it operates transparently, adheres to all relevant regulations, and supports evidence-based policymaking.
ED Continues Investigation into Foreign Funding Compliance
The ED is now examining whether the funds received by ASAR complied with India’s financial regulations. Additionally, authorities are investigating whether OSF and related entities secured the necessary clearances under India’s foreign funding laws.
This case has drawn significant attention due to increasing concerns about foreign funding in India’s non-profit and policy sectors. The findings of the ongoing investigation will determine the legitimacy of these financial transactions and their compliance with legal standards.
