ED Raids 15 Locations Under FEMA in Major Action Across Jharkhand

The Enforcement Directorate carried out coordinated searches on Tuesday across Ranchi, Mumbai and Surat under the Foreign Exchange Management Act. The operation focuses on chartered accountant Naresh Kejriwal, a familiar name in Jharkhand’s financial circles.

Teams reached his residence and Church Complex office at dawn and examined records through the day. Searches were also conducted at the homes and offices of his relatives and business partners.

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The action follows an earlier income tax probe that pointed to possible undeclared foreign investments. Officials said they have found indications that funds may have been routed into shell companies in the UAE, Nigeria, and the United States. These entities were allegedly operated from India, raising questions about their purpose and the origin of the money.

Investigators are reviewing documents related to foreign transactions, bank accounts, and corporate structures. According to officials, the financial trail includes undisclosed earnings from Jharkhand and funds linked to Assam.

Under FEMA, the ED can examine irregular foreign exchange dealings, seize documents, summon individuals, and impose penalties after confirming violations.

In a separate development, the ED has summoned 11 people in the Sahibganj illegal mining case, estimated at nearly Rs 1,000 crore. Those called include mining officials, contractors, and operators from Barhet, Rajmahal, Mirza Chauki, and Barharwa. The agency has already filed five supplementary charge sheets in the case before the PMLA court.

With the fresh raids and revived mining probe, ED’s activities in Jharkhand have expanded, bringing several financial networks under closer scrutiny.