Today: Sun , May 26 , 2024 Last Update: 14:35 PM
Follow Us :
/ News/Regulatory

Niranjan Hiranandani questioned by ED in FEMA probe case

Darshan Hiranandani has been living in Dubai for the past several years.

05 , March , 2024

Niranjan Hiranandani, the promoter of Hiranandani Group was questioned by the Enforcement Directorate (ED), in a foreign exchange violation case, informed official sources. 

The 73-year-old businessman is understood to have submitted some documents to the federal probe agency as he recorded his statement in the case. Niranjan Hiranandani and his son Darshan Hiranandani were asked to join the investigation by the Enforcement Directorate (ED) at its office here as part of a probe being conducted against them under the Foreign Exchange Management Act (FEMA). 

Darshan Hiranandani has been living in Dubai for the past several years. About four premises of the group in and around Mumbai were searched by the agency last month. The realty group, established in 1978, has developed office and residential projects in Powai in central Mumbai and neighbouring Thane. Apart from some foreign transactions, the agency is stated to be probing into the beneficiaries of a British Virgin Islands-based trust allegedly linked to the Hiranandani Group's promoters. 

The realty group has said it will cooperate with the ED in this FEMA investigation. Official sources said this ED probe is not linked to another FEMA investigation being conducted against TMC leader Mahua Moitra, who was recently expelled as a Lok Sabha MP. BJP MP Nishikant Dubey had accused Moitra of asking questions in the Lok Sabha to target the Adani Group and Prime Minister Narendra Modi at the behest of Darshan Hiranandani in exchange for gifts. 

Interestingly, Moitra has denied any wrongdoing and claimed she was being targeted as she had raised questions on the deals of the Adani Group.




(WITH INPUTS TAKEN FROM PTI)



 
Follow Us :
 
Others
In Conversation