ED Raids 9 Premises Linked to Rajesh Exports in Bengaluru and Mumbai Over Suspected FEMA Violations

June 24, 2026 : The Enforcement Directorate (ED) has carried out search operations at nine premises in Bengaluru and Mumbai linked to Rajesh Exports Limited as part of an ongoing investigation into alleged violations of the Foreign Exchange Management Act (FEMA), 1999.

According to the ED, the searches were conducted in connection with suspected FEMA contraventions involving Rajesh Exports Limited and its associated persons. The investigation has reportedly uncovered several irregularities, including missing records relating to overseas transactions, opaque trade set-offs worth approximately ₹3,000 crore, a 40% mismatch in stock records, and alleged share manipulation through offshore benamidars.

The agency said that the search operations resulted in the seizure of several incriminating documents and digital evidence, which are now being examined as part of the investigation.

The ED stated that the probe is ongoing and further action will be taken based on the evidence collected during the searches and the findings of the investigation.