ED searches LLP firm in Surat on FEMA violation charge

ED on Wednesday said it recently searched the premises of a Surat-based LLP firm and entities linked to it for allegedly making “suspicious” outward remittances worth Rs 2,284 crore.

The locations of Sharanam Jewels LLP, based in the Surat SEZ (special economic zone), its promoter Avadh Harshad Yagnik, Vansh Marketing, a proprietorship concern of Ashik Patel and others in Ahmedabad and Surat in Gujarat and Dhubri in Assam were searched under sections of the Foreign Exchange Management Act (FEMA), the agency said in a statement.