Forex violation case: ED summons Niranjan Hiranandani, Dubai-based son on Monday
Directorate of Enforcement (ED) has summoned Niranjan Hiranandani, co-founder and managing director of real estate developer Hiranandani Group, and his son Darshan Hiranandani in a forex violation case. It asked them to appear at the agency’s south Mumbai office on Monday. Darshan Hiranandani was informed by email as he is a non-resident Indian (NRI) and lives in Dubai, people aware of the matter told ET.
The agency has registered a case against the Hiranandanis and group entities under the Foreign Exchange Management Act (Fema), they said. On Thursday, the federal agency conducted searches at four sites linked to the realty firm in and around Mumbai, including Niranjan Hiranandani’s home as well as the registered and corporate offices of group entities.
“There are certain transactions with which the duo need to be confronted and therefore they have been summoned on Monday,” said an official aware of the development. Ordinarily, while summoning a person for the first time in a case, the agency allows the option of being represented through legal counsel.
Probe Limited to FDI, Says Co
“ED search is over. We’re not aware of anything further. We shall be submitting further documents (if required),” a Hiranandani Group spokesperson told ET in an email.
The members of the Hiranandani family have been facing probes by multiple agencies, including the income tax department and the Central Bureau of Investigation (CBI). In November, the CBI registered a preliminary enquiry into allegations of corruption against
