ED raids premises of Hiranandani Group in Mumbai in FEMA violation probe
THE JHARKHAND STORY DESK Mumbai, Feb 22: Official sources reported that the Enforcement Directorate conducted searches at the premises of the…
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THE JHARKHAND STORY DESK
Mumbai, Feb 22: Official sources reported that the Enforcement Directorate conducted searches at the premises of the well-known real estate firm Hiranandani on Thursday, in connection with allegations of foreign exchange violations.
Authorities are currently conducting searches at roughly four to five locations in and around Mumbai.
According to the sources, the investigation concerns potential violations of the Foreign Exchange Management Act (FEMA).
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The investigation is centred on potential violations of FEMA regulations, with the ED actively scrutinizing financial transactions to verify adherence to foreign exchange management regulations.
This inquiry is separate and unrelated to another FEMA investigation involving TMC leader Mahua Moitra, who was recently ousted as a Lok Sabha MP.
Prior to this, in March 2022, the Income Tax (I-T) agency conducted searches at about 25 Hiranandani Group locations in three different cities: Bengaluru, Chennai, and Mumbai. They conducted the searches in regards to suspected tax evasion.
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