The Enforcement Directorate (ED) on Thursday conducted searches at the premises of real estate major Hiranandani Group in Mumbai in connection with an alleged foreign exchange violation case, news agency PTI reported citing sources.
The searches were conducted at four to five locations in Mumbai, including the head offices of Hiranandani Group. The probe pertains to alleged violation of rules under the Foreign Exchange Management Act (FEMA) The investigating agency had received some new inputs in connection with an alleged foreign exchange violation case, based on which the action was taken, a report by News18 stated