ED Raid on Private Firm in Phagwara: Action taken for violation of FEMA rules; ₹22 Lakh cash and objectionable documents recovered.
A raid was carried out in Phagwara by the Enforcement Directorate (ED) to investigate violations of FEMA (Foreign Exchange Management Act) regulations. The search was conducted at four places by the Jalandhar Zonal Office team. Opal Engineering Corporation (OEC), a Phagwara company, was the site of this action. On November 14, 2025, the ED carried out this action.
According to reports, the four Phagwara city locations where action was taken are accused of breaking engineering goods export regulations and accepting funds from overseas through improper means.
Products were shipped to other nations.
The company had shipped commodities to nations like Syria, Iran, Turkey, and Colombia, but the necessary export payments were not collected in accordance with FEMA and RBI regulations, according to the ED probe. According to the inquiry, the money was immediately received in private accounts, and the payments were made through third parties. There was no paperwork for adjustment entries or a third-party agreement.
To make it appear authentic, the company also utilized a fictitious customs email address.
Objectionable documents and ₹22 lakh were seized.
Additionally, several export transactions were settled in cash both in India and overseas, according to the ED investigation. The ED confiscated electronic evidence, questionable documents, and ₹22 lakh in Indian currency during the raid. According to the ED, the investigation is still underway, and there may be a number of more significant discoveries in the future.
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