The Enforcement Directorate (ED) conducted raids at multiple offices of the realty major Hiranandani Group in Mumbai for alleged violations of FEMA rules. The raids and searches took place at the Hiranandani Group headquarters in Powai and at least three other offices in Mumbai and adjoining Raigad for alleged violation of foreign exchange regulations. The operation aimed to verify possible violations of FEMA laws, and the ED is scrutinizing the company’s financial transactions to check whether they comply with the rules.
In March 2022, the Hiranandani Group was also targeted by the Income Tax Department, which conducted raids at several of its premises in Mumbai, Chennai, and Bengaluru for suspected tax evasion. More details on the recent ED raids are awaited as the investigation unfolds.
The Enforcement Directorate’s raids at multiple offices of the Hiranandani Group in Mumbai are part of the ongoing investigation into alleged violations of FEMA rules. The operation, which included searches at the company’s headquarters in Powai and at least three other offices in Mumbai and adjoining Raigad, aimed to verify possible violations of foreign exchange regulations.
Earlier, in March 2022, the Hiranandani Group was targeted by the Income Tax Department, which had raided several of its premises in Mumbai, Chennai, and Bengaluru for suspected tax evasion. The ED is now scrutinizing the company’s financial transactions to check whether they fall within the rules. More details on the raids are awaited as the investigation progresses.
