<p style="margin: 0px; text-align: justify;"><span style="color: #222222;">Enforcement Directorate (ED) has conducted search operations at the business premises of Unnati Forex Private Limited, and Signature Forex and Allied Services Private Limited at various locations including Delhi, Gurugram, and Jalandhar. The search operation was conducted under the provisions of the Foreign Exchange Management Act (FEMA). The agency has initiated an investigation on the basis of credible information which revealed that Unnati Forex Private Limited is dealing in foreign exchange without any valid license from the Reserve Bank of India. During the search, it was found that the RBI had revoked the license of the company in March 2022. ED said, that despite the revocation of license, the company was engaged in the business of foreign exchange in connivance with Signature Forex and Allied Services Private Limited. During the search operation, foreign currency along with various incriminating documents including digital devices was seized.</span></p>