NEW DELHI: A day after TOI reported that ASAR Social Impact Advisors had received Rs 8 crore from USAID as foreign inward remittance in 2022-23, the Bengaluru-based company said it had been contracted to provide services by Council on Energy, Environment and Water (CEEW) on a USAID project – Clean Air Better Health – that aimed to support implementation of the National Clean Air Programme to reduce exposure of people to air pollution.
In a statement, ASAR denied having received any foreign direct investment from any entity. Last month, ED had searched the company for receiving funds from Soros Economic Development Fund in alleged violation of the Foreign Exchange Management Act (FEMA).
“Our Indian directors hold 100% of the share capital and operate like any consulting organisation – through service contracts. We remain fully compliant with all legal requirements, including FEMA,” the Bengaluru-based company said. ASAR added that it was “cooperating transparently with the authorities, providing all necessary information to support their inquiry, and remain committed to upholding all legal and regulatory obligations”.
In a separate statement, New Delhi-based CEEW said, “ASAR was contracted to provide specific services for a USAID project related to cleaner air. This project has already ended.” It further clarified that it has no link to George Soros or Open Society Foundations or received any funding from them.
“CEEW has no current relationship to ASAR at this stage. It has not received any queries from any govt authorities related to ASAR. We have no reason nor have any basis on which to comment on any ongoing investigation concerning a third party,” it added.
