Bhopal | The Directorate of Enforcement (ED) has carried out a major search operation in the Shri Astha Foundation for Education Society case in Madhya Pradesh, conducting raids at 12 premises linked to the Chouksey Group. During the operation, investigators seized approximately ₹3.97 crore in cash, gold jewellery worth ₹3.45 crore, and a large volume of digital and financial records.
The searches were conducted on June 23, 2026, by the ED’s Bhopal Zonal Office under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002. The action covered a total of 12 premises, including a bank locker. The locations searched included residential properties, offices, educational institutions, trusts, and business establishments allegedly connected to the accused persons and entities associated with the Chouksey Group.
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The money laundering investigation stems from an FIR registered by the Economic Offences Wing (EOW), Bhopal, against Jaynarayan Chouksey and others. The case involves allegations of large-scale financial fraud, including the misappropriation and diversion of funds belonging to Shri Astha Foundation for Education Society.
According to the ED, its investigation revealed that Shri Astha Foundation for Education Society, which manages several educational and healthcare institutions, was controlled by members of the Chouksey family and their associates. Investigators found that funds collected through student fees, scholarship grants, and bank loans obtained in the name of the society and its institutions were allegedly diverted to related trusts, companies, and other entities controlled by the accused persons.
During the searches, officials recovered substantial incriminating material. Approximately ₹3.97 crore in cash was seized from various premises. Investigators also confiscated mobile phones, digital devices, ERP and Tally data, financial records, property-related documents, and other documents considered relevant to the probe.
The ED further stated that gold jewellery valued at around ₹3.45 crore was recovered and seized during the operation. In addition, documents relating to several immovable properties were found and taken into custody for further examination.
Investigators believe the seized records could provide crucial evidence regarding the movement of funds, investment patterns, and the acquisition of assets allegedly linked to the suspected diversion of institutional resources. Digital data and financial documents are expected to undergo forensic examination to trace the flow of money and identify the beneficiaries of the alleged transactions.
The case is being viewed as a significant investigation into the financial management of educational and charitable institutions. Authorities are examining whether institutional funds were routed through a network of related entities and individuals for purposes unrelated to the objectives of the society.
The ED has stated that the investigation remains ongoing. Officials are currently analysing the seized documents, electronic records, and financial data to determine the full extent of the alleged fraud and identify any additional assets or transactions connected to the case. Further action will depend on the outcome of the ongoing investigation and forensic review of the evidence collected during the searches.
