ED searches Mumbai export firm premises in FEMA probe over foreign assets
The ED searched multiple premises in Mumbai on 9 July 2026 in a FEMA case involving a Mumbai export company. The agency said it found evidence of undisclosed foreign companies and bank accounts and unrealised export proceeds worth crores of rupees. Devices and documents were seized and examination continues.
This page records what the cited court, tribunal and government records say happened. Findings belong to the court or authority that made them; this register adds none of its own. Names of private individuals are withheld unless a naming gate clears them.
How we verify →Searches and seizures are complete; the seized material is being examined to trace overseas assets and the money trail.
What happened
The ED stated that its Headquarters Investigation Unit searched multiple premises in Mumbai on 9 July 2026 under FEMA in the case of a Mumbai export company.
The ED stated that evidence of undisclosed foreign companies and foreign bank accounts of a director was found and had not been disclosed in income tax returns.
The ED stated that export proceeds running into crores of rupees had not been realised despite lapse of permitted time, with no extension from authorised dealer banks or RBI.
The Indian Express reported that money which ought to have come to India had not come despite substantial time, with no documented recovery efforts.
What the record says
“conducted searches on 09.07.2026 at multiple premises in Mumbai under the provisions of Foreign Exchange Management Act, 1999 in the case of Kalanee Impex Private Limited.”
ED press release dated 10.07.2026, opening paragraph — read the full text
A peaceful economic act
Holding money abroad and keeping export earnings outside India has no complaining victim; the action targets cross-border capital movement, not drugs, bribes, fraud proceeds or election cash.
What we could not confirm
The ED release also mentions older US and UK customs matters for background; their linkage to the Indian exports is still under examination and no FEMA penalty amount was stated. Case number not published.