Ranchi, 2 Dec 2025: The Enforcement Directorate (ED) carried out a major operation on Tuesday morning against Naresh Kejriwal, a well-known Chartered Accountant (CA) and alleged hawala operator from Jharkhand, in connection with unreported overseas assets.
ED teams simultaneously raided a total of 15 locations across Ranchi, Mumbai, and Surat, starting at 6 a.m. Sources confirmed that Kejriwal has been handling the financial affairs of several prominent politicians. The action comes following allegations of illegal overseas investments and violations of the Foreign Exchange Management Act (FEMA).
In Ranchi, the ED focused on Kejriwal’s office located in the Church Complex, along with his residential properties. Officials noted that this marks the first FEMA-related raid in Jharkhand by the agency.
Previous Findings Fuel Investigation
Earlier searches conducted by the Income Tax Department had uncovered crucial documents and digital data. Based on these findings, the ED initiated an in-depth FEMA investigation. Preliminary inquiries suggest that Kejriwal and his associates invested funds in countries including Dubai and the United States. Authorities have obtained key information regarding foreign transactions, companies, and bank accounts linked to these investments.
Records of Foreign Transactions Seized
The ED stated that these overseas investments were reportedly made without adherence to the prescribed regulatory procedures. During the raids, officials seized electronic devices, computers, financial records, and documents related to foreign transactions. Initial findings indicate multiple instances of potential violations under FEMA, prompting the multi-state operation.
The investigation is ongoing, with the ED meticulously reviewing all financial and electronic records to uncover further evidence of alleged violations.
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