ED Raids Hiranandani Group Premises in Mumbai & Panvel, Sources Clarify 'Not Linked to Mahua Moitra'

The Hiranandani group, one of the largest real estate developers in India, was raided by the Enforcement Directorate (ED) on Thursday. Four premises of the group — three in Mumbai and one in Panvel — were searched for allegedly violating FEMA rules.

Sources told News18 that 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 source added that the action is not related to Trinamool Congress leader Mahua Moitra.

Darshan Hiranandani, son of company co-founder Niranjan Hiranandani, had hit the headlines in ‘cash for query’ case involving former TMC MP Mahua Moitra.

BJP MP Nishikant Dubey, in a written complaint to Lok Sabha Speaker Om Birla, had accused Moitra of taking money and expensive gifts from Darshan in exchange for raising parliamentary questions.

Darshan Hiranandani is also the chairman of data centre operator Yotta Data Services, oil and gas and related infrastructure company H-Energy, Tarq Semiconductors and consumer services offering Tez Platforms.

Darshan’s father Niranjan Hiranandani, and Surendra Hiranandani started the real estate business in 1978.

The company has constructed and delivered about 48 million square feet of real estate, including 35 million square feet of residential and nearly 14 million square feet of commercial and retail space in Powai, Panvel, Thane (all part of the Mumbai Metropolitan Region), Chennai, Ahmedabad and Pune.

According to a report in MoneyControl, the company also plans to launch three plotted development projects in Alibaug and Khandala, resort areas popular with Mumbaikars, and in Chennai.

Hiranandani said the group owns 250 acres of land in Alibaug, 500 acres in Khandala and 400 acres in Chennai.

(details to follow)