FEMA Violation Case: Niranjan Hiranandani, His Son Do Not Appear For ED Summons, Cite Reasons

Niranjan Hiranandani

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The ED summoned builder Niranjan Hiranandani and his son Darshan on Saturday in connection with a Foreign Exchange Management Act (FEMA) violation investigation, but they did not appear before the agency.

While Niranjan Hiranandani stated that he was unable to come before the agency due to health problems, his son Darshan informed the agency that he would be able to do so on March 4. Last week, the ED searched the offices of real estate giant Hiranandani Group in and around Mumbai in connection with the FEMA investigation.

Hiranandani Group’s spokesperson said, “No summons were received for 26th February by any member of the Hiranandani group. All details were provided to ED and further details shall be provided (if required). We will continue to cooperate fully. The group remains confident that this 15-year-old matter poses no FEMA violations by the group whatsoever.”

Niranjan Hiranandani and his family members were alleged beneficiaries of an offshore trust with assets worth more than USD 60 million.