Jharkhand News : In a major action, the Enforcement Directorate (ED) on Monday conducted raids at multiple premises linked to well-known Ranchi-based Chartered Accountant Naresh Kejriwal. The raids were carried out under the Foreign Exchange Management Act (FEMA), marking the first-ever FEMA-based raid by ED in Jharkhand, making the operation highly significant.
According to official sources, ED teams launched simultaneous raids at 15 locations across Ranchi, Mumbai and Surat at around 6 a.m. The searches covered Kejriwal’s office located at Church Complex, his residential premises, and other properties linked to his family. Multiple ED teams examined documents, financial papers, digital records and electronic devices.
The agency initiated the FEMA investigation based on evidence recovered during an earlier Income Tax Department raid. The Income Tax probe reportedly found indications that Kejriwal had invested money abroad in violation of FEMA guidelines, prompting ED to open a detailed inquiry.
During preliminary investigation, ED found proof that Kejriwal had made unauthorised foreign investments in countries such as Dubai, the United States, and possibly other locations. These investments allegedly did not comply with FEMA regulations, raising suspicion of irregular financial movement or undisclosed income being diverted overseas.
Sources revealed that several documents and digital devices were seized during the search operation. ED is expected to conduct detailed questioning of Kejriwal and examine the money trail to determine the actual source of funds invested abroad.
Officials believe the case could widen significantly, potentially bringing more individuals and companies under investigation. The nature of foreign investments suggests that operations may involve a larger network of financial misrepresentation or foreign asset concealment.
The ED’s action has created a stir in the financial and business circles of Jharkhand, as Kejriwal is considered one of the most influential CAs in Ranchi. With the initial evidence pointing toward major FEMA violations, the probe is expected to intensify further in the coming weeks.
