ED Targets CA Naresh Kejriwal, Conducts Multi-City Raids in FEMA–PMLA Case
Massive FEMA-PMLA raids hit CA’s empire in Ranchi, Mumbai, Surat.
The Enforcement Directorate on Tuesday unleashed simultaneous searches at 15 locations across Ranchi, Mumbai and Surat, targeting prominent Ranchi-based Chartered Accountant Naresh Kejriwal and his network in a high-profile investigation under the Foreign Exchange Management Act (FEMA) and Prevention of Money Laundering Act (PMLA) provisions.
ED sleuths descended on Kejriwal’s sprawling residence and office in Church Complex, Ranchi, along with premises belonging to his family members, close relatives and business associates early Tuesday morning. Officials seized digital devices, financial records and documents linked to suspected foreign exchange violations and undisclosed offshore investments.
Sources revealed that the operation was triggered by an Income Tax probe which uncovered Kejriwal’s undisclosed stakes in multiple shell companies registered in the UAE, Nigeria and the United States. These entities were allegedly controlled and operated from Indian soil, routing suspicious transactions worth several hundred crores while remaining hidden from regulatory scrutiny.
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This marks the first major FEMA-centric action in Jharkhand, expanding the ED’s ongoing crackdown on illicit financial flows. Teams are examining bank statements, property papers and communication records to trace the movement of funds and identify beneficiaries of the alleged hawala-like network.
Parallelly, the agency has intensified its ₹1,000-crore illegal mining scandal probe in Sahibganj, issuing fresh summons to eleven individuals including senior mining officers, contractors and businessmen to appear before its Ranchi zonal office. With five supplementary charge sheets already filed, the ED is tightening the noose on politicians, bureaucrats and middlemen accused of siphoning mining royalties through benami transactions and money laundering.
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