Niranjan Hiranandani, Dubai-Based Son Darshan Summoned by ED on February 26 in Forex Violation Case

The Enforcement Directorate (ED) has summoned Niranjan Hiranandani, the co-founder and managing director of real estate giant Hiranandani Group, and his son Darshan Hiranandani for questioning in a suspected case of foreign exchange violation. They are expected to appear at the agency's South Mumbai office on Monday, February 26.

The specific nature of the alleged forex violation remains unclear at this time. However, sources familiar with the investigation told the Economic Times that the summons were issued via email to Darshan Hiranandani, who maintains a non-resident Indian (NRI) status and resides in Dubai. 

On Thursday, according to reports, ED conducted searches at multiple premises of the Hiranandani Group in Mumbai on charges of violations under the Foreign Exchange Management Act (FEMA). Hiranandani Group is one of the most premium real estate developers in India, with more than 40 years of experience in this business. Niranjan Hiranandani is a co-founder and Managing Director of Hiranandani Group of Companies.