Actor-TV Host Shekhar Suman's Associate Faces ED Action in FEMA Case; Allegedly Tried to Destroy Evidence

India's Enforcement Directorate (ED) conducted searches on Thursday against Kalanee Impex Pvt Ltd and its director, businessman Dharmesh Sangani, as part of an investigation into alleged violations of the Foreign Exchange Management Act (FEMA). Officials cited allegations of undisclosed foreign assets, undeclared foreign bank accounts, and irregularities concerning export proceeds that were not repatriated to India.

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During the course of search proceedings, it was revealed that money which ought to have been received in India has not come to India despite lapse of substantial time.

During the searches in Mumbai, ED officials reportedly discovered that significant export proceeds from overseas buyers had not been received in India, despite substantial time lapses. Furthermore, there was a lack of documented recovery efforts for these outstanding amounts, and no extension had been obtained from the Authorized Dealer Bank. The investigation also indicated that export proceeds were sometimes received from third-party entities, rather than the named consignee or buyer on the invoices.

The agency claimed to have uncovered evidence of undisclosed foreign assets, including substantial shareholding by Sangani in a Canadian company that was not disclosed to authorities. Unidentified foreign bank accounts and related transactions were also found. Additionally, an undisclosed business entity in the UAE and undeclared bank accounts in the United States were identified.

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Evidence of undisclosed foreign assets and foreign bank accounts during the searches.

Adding a dramatic turn, ED officials reported that Sangani allegedly attempted to destroy digital evidence by throwing his mobile phone from the 13th floor of a building when the search team arrived. The mobile phone was subsequently retrieved and seized by ED officers. Sangani is also reportedly facing scrutiny from US Customs authorities regarding certain transactions and had previously encountered issues with UK Border Force in 2016 over under-declared gold jewelry.

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On Thursday, when ED went for the raid, Sangani tried to destroy the digital evidence by throwing his mobile from the 13th floor of a building, for which a complaint was given to Mumbai Police by ED.