Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Companies / News/  Hiranandani Group promoters Niranjan and son Darshan summoned by ED in FEMA case
BackBack

Hiranandani Group promoters Niranjan and son Darshan summoned by ED in FEMA case

The Enforcement Directorate has summoned Niranjan Hiranandani and his son Darshan Hiranandani, the promoters of prominent Mumbai-based real estate developer Hiranandani Group, for questioning in a foreign exchange violation case on February 26

Hiranandani Group promoters have been asked to depose at the ED office in Mumbai but they may choose to submit their primary responses through an authorised representativePremium
Hiranandani Group promoters have been asked to depose at the ED office in Mumbai but they may choose to submit their primary responses through an authorised representative

Hiranandani Group co-founder and Managing Director Niranjan Hiranandani and his son Darshan Hiranandani have been summoned by the Enforcement Directorate (ED) on Monday i.e. February 26, 2024 in alleged violation of provisions of the Foreign Exchange Management Act (FEMA), news agency PTI reported on Sunday citing sources.

The report said the promoters of Mumbai-based real estate company have been asked to depose at the ED office in Mumbai but they may choose to submit their primary responses through an authorised representative.

Also Read | Disney, Reliance sign binding pact to merge media operations in India: Report

It is important to note that about four premises of the real estate major in and around Mumbai were searched by the federal probe agency last week for alleged violation of foreign exchange regulations. Apart from some foreign transactions, the ED is said to be probing the beneficiaries of a British Virgin Islands (BVI)-based trust allegedly linked to the Hiranandani Group promoters.

Darshan Hiranandani lives in Dubai and was in the news recently in the cash-for-query scandal involving TMC MP Mahua Moitra.

Also Read | ‘Sahas se zyada shraddha’: PM Modi prays at underwater site Dwarka | Watch video

After the searches, the Hiranandani Group released a statement, stating it was extending full cooperation to the ED in the FEMA case.

Probe not linked to Mahua Moitra case

The report said the searches against the group have anything to do with the Mohua Moitra—who was expelled as a Lok Sabha MP in December last year—case, which is going on separately. The ED is probing allegations of BJP MP Nishikant Dubey that the TMC leader had asked questions in the Lok Sabha to target the Adani Group and Prime Minister Narendra Modi at the behest of Darshan Hiranandani in lieu of gifts.

Also Read | UP news: Gaming addict son kills mother for insurance money to pay debt

The BJP MP had also accused Moitra of compromising national security for monetary gains. Moitra has denied any wrongdoing and claimed she was being targeted as she had raised questions on deals of the Adani Group.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 25 Feb 2024, 06:03 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App