Hyderabad, April 15: Enforcement Directorate conducted raids on entities linked to Ashok Mittal in Punjab on April 15, 2026. The action is part of a probe under the Foreign Exchange Management Act.
Officials said searches took place at multiple business locations. These include premises in Jalandhar and Phagwara. The agency is examining alleged violations under FEMA provisions.
Ashok Mittal is a businessman and educationist. He heads the Lovely Group, which runs a private university. Recently, he was appointed deputy leader of the Aam Aadmi Party in the Rajya Sabha.
ED raids entities linked to Ashok Mittal under FEMA probe
Sources said the raids covered several linked entities. The agency is collecting documents and financial records. These will be reviewed as part of the ongoing investigation.
The Enforcement Directorate has not issued a detailed statement yet. Further action will depend on findings from the searches.
The development comes amid increased scrutiny of financial compliance. Agencies have stepped up enforcement under FEMA in recent months.
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