Daijiworld Media Network – Ranchi

Ranchi, Dec 2: The Enforcement Directorate (ED) on Tuesday conducted extensive raids at 15 locations linked to Chartered Accountant Naresh Kejriwal in Ranchi, Mumbai, and Surat under the Foreign Exchange Management Act (FEMA) and money laundering provisions. This marks the first major ED action under FEMA in Jharkhand, diverging from previous actions under the Prevention of Money Laundering Act (PMLA).

ED teams searched Kejriwal’s residence and office at Church Complex in Ranchi, examining documents related to financial dealings and suspicious foreign exchange transactions. Premises associated with his family members, relatives, and business associates were also raided.

The crackdown follows an Income Tax Department probe that revealed Kejriwal’s investments in several undeclared foreign shell companies in the UAE, Nigeria, and the US, allegedly operated from India. Investigating agencies have gathered key information on foreign investments, transactions, and bank accounts, prompting ED searches under FEMA.

In parallel, the ED has intensified its investigation into an illegal mining case in Sahibganj, involving an estimated Rs 1,000 crore. Eleven individuals, including mining officers, businessmen, and contractors, have been summoned for questioning at ED’s Ranchi office.

The probe is based on Enforcement Case Information Report (ECIR) number 85/2020, with five supplementary charge sheets filed before the PMLA court as of June 30.