ED raids Ranchi CA Naresh Kejriwal in first-ever FEMA action in Jharkhand
Ranchi, Dec 2: The Enforcement Directorate (ED) has conducted raids at the premises of Ranchi-based Chartered Accountant (CA) Naresh Kejriwal, a…
Ranchi, Dec 2: The Enforcement Directorate (ED) has conducted raids at the premises of Ranchi-based Chartered Accountant (CA) Naresh Kejriwal, a well-known figure in the city.
Unlike previous actions under the Prevention of Money Laundering Act (PMLA), the ED carried out these searches under the Foreign Exchange Management Act (FEMA). This is the first such action by the ED under FEMA in Jharkhand.
The raids began around 6 am on Tuesday at 15 locations linked to Naresh Kejriwal and his family members in Ranchi, Mumbai, and Surat.
In Ranchi, the ED searched Kejriwal’s office located in Church Complex as well as his residential premises.
The investigation under FEMA was initiated based on findings obtained by the Income Tax Department during earlier raids on Kejriwal.
According to the ED’s preliminary inquiry, evidence has surfaced indicating that Kejriwal invested money abroad.
During the probe into these overseas investments, information emerged suggesting violations of FEMA regulations. Initial findings reportedly show that CA Naresh Kejriwal made investments in Dubai, the United States, and some other countries.
Based on this evidence, the ED conducted searches at the premises of Kejriwal and individuals associated with him under FEMA.
