For the first time, a Chartered Accountant cum builder of Jharkhand is booked by the Enforcement Directorate under the Foreign Exchange Management Act (FEMA).

The CA cum builder is Ranchi in Jharkhand, based on Naresh Kejriwal. He who had been out of jail on bail has been facing a property dispute within the family for a long.

On Tuesday, the ED launched a search operation in 15 locations linked with Kejriwal in Ranchi, Mumbai, and Surat under FEMA.

Incidentally, ED’s operation marked a major shift in the agency’s approach in the state, where its previous actions were taken under the Prevention of Money Laundering Act (PMLA). The latest raids began early Tuesday, around 6 a.m.

The raids were simultaneously covered 15 premises linked to Kejriwal and his family in Ranchi, Mumbai, and Surat.

In Ranchi, ED officials searched Kejriwal’s office located in the Church Complex, along with several residential premises associated with him.

According to officials, the action stems from inputs obtained during an earlier Income Tax Department raid. Evidence discovered during that operation reportedly indicated violations related to foreign investments. Based on these findings, the ED initiated a FEMA probe against Kejriwal.

During the agency’s preliminary investigation, officials claim to have uncovered proof of substantial overseas investments allegedly made by Kejriwal in Dubai, the United States, and other countries.

As per information available, several transactions appeared to be in violation of foreign exchange regulations, prompting the first-of-its-kind FEMA raid in the state.

The ED is now scrutinising documents and digital records seized during the searches to ascertain the scale of the suspected violations and identify others who may be linked to the case.