The Enforcement Directorate (ED) has taken a significant step in its investigation by summoning Niranjan Hiranandani and his son Darshan Hiranandani, the prominent figures behind Mumbai-based real estate giant, Hiranandani Group. This move comes as part of an inquiry into alleged foreign exchange violations, following recent searches conducted by the ED at four premises associated with the conglomerate.
According to reports from the Press Trust of India (PTI), the ED has issued summonses for Niranjan and Darshan Hiranandani to appear before its office in Mumbai on February 26. However, they have been given the option to provide their initial responses through an authorized representative if preferred.
The summoning of the father-son duo underscores the seriousness of the allegations and the ED’s determination to thoroughly investigate the matter. As key stakeholders in the Hiranandani Group, their testimony and cooperation are essential to the ongoing probe.
The Group, known for its significant presence in the Mumbai real estate sector, has been under the ED’s scrutiny following suspicions of financial irregularities related to foreign exchange transactions. The recent searches conducted by the ED likely yielded crucial evidence or information prompting the summoning of Niranjan and Darshan Hiranandani for questioning.
This development is likely to garner attention within both the business and legal communities, as it underscores the regulatory scrutiny faced by major corporate entities. The outcome of the ED’s investigation and the subsequent actions taken will be closely monitored for their potential implications on the Hiranandani Group and the wider real estate industry.
