Enforcement Directorate searches underway at Hiranandani Group over alleged FEMA violations
Enforcement Directorate (ED) searches are underway at around 10 to 12 locations related to the Hiranandani Group over alleged Foreign Exchange Management Act (FEMA) violations, as per a CNBC-TV18 report citing sources.
According to a PTI report, the ED conducted searches at four to five locations in and around Mumbai, associated with the well-known real estate group.
PTI sources also said the action is in connection with FEMA charges. They added that it is important to note that this inquiry is distinct from another FEMA investigation involving TMC leader Mahua Moitra, who was recently expelled as a Lok Sabha MP.
Unrelated to Moitra’s Previous FEMA Investigation
Contrary to speculation, the current probe is not linked to the prior FEMA investigation against Mahua Moitra, sources told PTI. Earlier, BJP MP Nishikant Dubey had accused Moitra of targeting the Adani group and Prime Minister Narendra Modi on behalf of businessman Darshan Hiranandani in exchange for gifts.
Dubey went on to claim that Moitra compromised national security for monetary gains. Darshan Hiranandani, the individual mentioned in these allegations, is the son of real estate tycoon Niranjan Hiranandani.
In response to the accusations, Mahua Moitra denied any wrongdoing and said she is being targeted due to her inquiries into the Adani group’s business dealings.
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Published: 22 Feb 2024, 01:30 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.