The Enforcement Directorate (ED) questioned real estate baron Niranjan Hiranandani, Managing Director of Hiranandani Group, on Monday in a case related to alleged violation of the Foreign Exchange Management Act (FEMA).
According to a report by the Hindustan Times, the billionaire businessman was quizzed by the anti-money laundering agency for nearly 11 hours.
Hiranandani, promoter of one of the prominent realty companies in Mumbai, reached ED’s office in Ballard Pier around 11.30 am and left around 10.15 pm.
Hiranandani Group promoters summoned by ED in FEMA case
“Just understand it (allegation of FEMA violation) came 16 years ago. It’s been maybe 42 times and this is the 43rd time. If the violation was there, 41 times it was not seen?” Hiranandani asked while talking to reporters.
“Whenever an issue is raised by an authority, I’m very happy to cooperate because it is their duty for the purposes of finding out what the issues are. So we have no problem in repeating and reiterating whatever we have done,” he added while leaving the ED’s office in south Mumbai.
ED had summoned Niranjan and his son Darshan who has lived in Dubai for the last few years.
On February 22, the ED conducted searches at multiple premises of the Hiranandani Group in Mumbai on FEMA violation charges.
Case against Niranjan Hiranandani
According to the Enforcement Directorate, the group entities had allegedly received funds over ₹400 crore via the Foreign Direct Investment (FDI) route for the housing projects but the alleged utilisation of the amount in these projects was not as per the prescribed government guidelines.
ED searches underway at Hiranandani Group over alleged FEMA violations
Under the ED’s scanner are Niranjan Hiranandani, his son Darshan Hiranandani, and their group entities.
Darshan Hiranandani and TMC’s Mahua Moitra connection
ED has issued a summon to Trinamool Congress party’s MP Mahua Moitra or questioning in a FEMA contravention case on March 11.
Delhi HC scraps Mahua Moitra’s plea in cash for query case
BJP MP Nishikant Dubey had accused Moitra of asking questions in Lok Sabha to target the Adani group and Prime Minister Narendra Modi at the behest of businessman Darshan Hiranandani in exchange for gifts.
He had also accused Moitra of compromising national security for monetary gains. Darshan Hiranandani had claimed in a signed affidavit that Moitra targeted industrialist Gautam Adani to “malign and embarrass” Prime Minister Narendra Modi.
Moitra has denied any wrongdoing and claimed she was being targeted as she had raised questions on the deals of the Adani group.
Niranjan Hiranandani and son Darshan summoned by ED today. Here’s why
Moitra is being probed by the CBI too.
Hiranandani Group is one of the most premium real estate developers in India, with more than 40 years of experience in this business.
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Published: 05 Mar 2024, 06:28 AM IST