ED raids office, other locations of Hiranandani Group over FEMA violation
The searches as per sources are in connection with a FEMA violation.
- Feb 22, 2024,
- Updated Feb 22, 2024 2:44 PM IST
The Enforcement Directorate is reportedly raiding the head office and other premises of the Hiranandani Group in Mumbai . The searches as per sources are in connection with a FEMA violation.
The probe is reportedly is related to investments in a trust based in a tax haven in which the promoter and his family members are alleged beneficiaries.
Other than the ED, the income tax departure is also probing the Hiranandani group over alleged tax violations.
Hiranandani group was named in the ‘Pandora Papers’ – a leak of close to 12 million financial documents revealing hidden wealth, tax evasion and money laundering by some of world’s rich and powerful by ICIJ, or International Consortium of Investigative Journalists.
As per the documents, Hiranandani Group and key members of Niranjan Hiranandani’s family were beneficiaries of a trust with assets of over $60 million.
The Enforcement Directorate is reportedly raiding the head office and other premises of the Hiranandani Group in Mumbai . The searches as per sources are in connection with a FEMA violation.
The probe is reportedly is related to investments in a trust based in a tax haven in which the promoter and his family members are alleged beneficiaries.
Other than the ED, the income tax departure is also probing the Hiranandani group over alleged tax violations.
Hiranandani group was named in the ‘Pandora Papers’ – a leak of close to 12 million financial documents revealing hidden wealth, tax evasion and money laundering by some of world’s rich and powerful by ICIJ, or International Consortium of Investigative Journalists.
As per the documents, Hiranandani Group and key members of Niranjan Hiranandani’s family were beneficiaries of a trust with assets of over $60 million.