ED raids CA in Jharkhand in undisclosed foreign assets case

RANCHI: (Dec 2) The Enforcement Directorate on Tuesday conducted searches against a Ranchi-based CA along with his associates in a case linked to alleged possession of undisclosed assets abroad, officials said.

The premises of Naresh Kumar Kejriwal, a Chartered Accountant and suspected hawala operator, some of his family members and associates are being searched in Ranchi, Mumbai and Surat under the provisions of the Foreign Exchange Management Act (FEMA), they said.

The action stem from Income Tax Department findings which allege that Kejriwal controls "undisclosed" foreign shell entities in the UAE, Nigeria, and the the US which are managed effectively from India, ED officials said.