EBIX Ltd Promoter/Director Vikas Garg Taken Into Custody by ED

EBIX Ltd announced that its Promoter/Director, Mr. Vikas Garg, has been taken into custody by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act, 2002. This development is in continuation of previous disclosures regarding proceedings initiated by the ED concerning transactions involving foreign entities/FPIs that invested in EBIX and other listed companies. The company is consulting legal advisors and will take appropriate steps. EBIX states that this event has no material impact on its ongoing business operations. Further disclosures will be made as required.