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Jalandhar/Phagwara: In a significant enforcement action, teams of the Enforcement Directorate (ED) from Delhi on Wednesday conducted simultaneous raids at multiple premises of the Lovely Group across Jalandhar and Phagwara in Punjab.
The group is headed by Ashok Mittal, Aam Aadmi Party MP and Deputy Leader in the Rajya Sabha, who is also the founder chancellor of Lovely Professional University (LPU).
Searches Across Educational and Business Establishments
The ED searches are being carried out in connection with alleged violations of the Foreign Exchange Management Act (FEMA).
Officials conducted raids at multiple locations linked to the group, including:
- Lovely Professional University campus
- Lovely Autos
- Lovely Sweets
- Lovely Distance Education Centre
In addition, residential premises and offices of Mittal’s family members, including his brothers Ramesh Mittal, Naresh Mittal and Aman Mittal, were also searched as part of the operation.
Multi-Location Operation with Central Forces
Teams of ED officials, accompanied by central security forces, arrived from Delhi and launched coordinated searches across several locations simultaneously, indicating a broad-based probe into financial transactions linked to the group.
Focus on FEMA Violations
The action is part of an investigation by FEMA that addresses foreign exchange-related transactions and compliance, including cross-border fund flows, foreign investments, and financial disclosures.
High-Profile Development
Ashok Mittal is a prominent educationist and industrialist, and his group has a significant presence in Punjab’s education and business sectors. The raids mark a high-profile development, given his political position and the scale of the institutions involved. Further details are awaited as the searches continue, with officials expected to examine documents, financial records, and digital evidence to establish the nature and extent of alleged violations.
