ED questions Hiranandani group promoters in Foreign Exchange violation investigation
NEW DELHI: The Enforcement Directorate (ED) has initiated a comprehensive investigation into the Hiranandani Group’s financial transactions, primarily focusing on foreign exchange violations. The agency has summoned Niranjan Hiranandani, the group’s promoter, and his son, Darshan Hiranandani, for questioning at their Mumbai office.
The ED’s recent raids on four premises connected to the Hiranandani Group, including Niranjan Hiranandani’s residence, have intensified the scrutiny. These raids come amid concerns over foreign currency transactions and the alleged involvement of a British Virgin Islands-based trust linked to the group’s promoters.
Darshan Hiranandani, residing in Dubai, is also under the ED’s radar. His overseas connections have raised questions about the nature of the group’s international transactions. The Hiranandani Group has promised to cooperate fully with the ED’s investigation into FEMA violations. This investigation is significant given the Hiranandani Group’s prominence in the real estate sector, particularly in Mumbai. The ED’s probe may uncover the intricacies of the group’s financial operations and their international links.
In a separate context, the ED’s probe into foreign currency violations is also indirectly linked to a recent controversy involving TMC’s suspended MP Mahua Moitra and BJP MP Nishikant Dubey. Dubey had accused Moitra of targeting the Adani Group and Prime Minister Narendra Modi in the Lok Sabha, allegedly at the behest of Darshan Hiranandani, in exchange for gifts. Moitra, who was recently expelled from the Lok Sabha, has denied these allegations, asserting that she was being targeted for questioning the Adani Group’s deals.
BJP MP Nishikant Dubey had accused Moitra of targeting the Adani Group and Prime Minister Narendra Modi in the Lok Sabha under the influence of Darshan Hiranandani, in exchange for gifts. Moitra has vehemently denied these allegations, maintaining that her scrutiny of the Adani Group’s transactions led to her being unfairly targeted.
As a prominent player in Mumbai’s real estate scene, the Hiranandani Group’s involvement in this investigation has attracted considerable attention. The ED’s scrutiny is expected to shed light on the complex web of financial transactions within the group and its
network of beneficiaries.
