The Enforcement Directorate (ED) has launched extensive searches under the Foreign Exchange Management Act (FEMA) against Naresh Kumar Kejriwal, a Ranchi-based Chartered Accountant and alleged hawala operator, along with his family and associates. These searches are taking place in Ranchi, Mumbai, and Surat. An agency source revealed, "The action is based on the Income Tax Department findings revealing that Mr. Kejriwal controls undisclosed foreign shell entities in the United Arab Emirates, Nigeria, and the United States-managed effectively from India, which have accumulated over ₹900 crore in unexplained reserves and routed around ₹1,500 crore back to India through bogus telegraphic transfers." The ED official further explained, "As these foreign assets were not disclosed in statutory filings and appear to be vehicles for large-scale illicit fund layering, the search is critical to secure incriminating digital and documentary evidence of these unauthorised cross-border dealings." These strong measures aim to crack down on the alleged money laundering and illicit cross-border transactions linked to Mr. Kejriwal and his network.