At present, ED’s vigorous action is going on at the locations of Ranchi’s well-known chartered accountant Naresh Kumar Kejriwal. Continuous raids are going on at his house, office and business places. ED has started this action under PMLA and FEMA laws. The special thing is that this is the first raid of ED under FEMA in Jharkhand.
The ED team has raided a total of 15 locations of Naresh Kejriwal and his family members in Ranchi, Mumbai and Surat. Searches are also being conducted at his office and residence in Church Complex, Ranchi. This entire operation is going on in a very confidential manner.
Who is Naresh Kejriwal?
Naresh Kejriwal is considered a big chartered accountant of Ranchi. He has been giving financial advice to many companies. But now he is the target of ED and Income Tax Department. In fact, many suspicious transactions have come to light in the investigation. It is being told that Kejriwal’s transactions worth around Rs 900 crore are being considered suspicious.
Kejriwal’s Polkital connection
Naresh Kejriwal is a well-known name in both business and politics of Jharkhand. It is being said that he has deep relations with many big political families.
Shell companies formed abroad
Income Tax Department investigation revealed that Kejriwal had formed several undeclared foreign shell companies in UAE, Nigeria and America. The work of these companies was done from India only. An amount of more than Rs 900 crore was deposited in these foreign companies, of which there is no valid accounting book.
Rs 1500 crore sent back to India
Investigative agencies claim that through these shell companies, about Rs 1500 crore were sent to India through fake telegraphic transfers (TTs). How did this money come, who sent it, and what was it used for… investigation into all these questions is ongoing.
Suspicion of hawala and illegal layering
Agencies suspect that this entire network was created for hawala and money laundering. Foreign assets were not mentioned anywhere in government documents. For this reason, ED is scanning digital devices, documents and bank records.
hawala network
This action of ED is being considered as a big effort to tighten the noose on cross-border illegal transactions and hawala network. At present, legal action is going on and more big revelations may be made in the coming days.
