Mumbai, July 10 (IANS) In an operation linked to a reported associate of actor Shekhar Suman, the Enforcement Directorate (ED) conducted searches at the premises of Kalanee Impex run by Dharmesh Sangani over undisclosed foreign assets and suspicious cross-border transactions, an official said on Friday.
Sangani, believed to have stakes in film production and closely associated with Shekhar Suman, came under the ED lens for allegedly operating foreign bank accounts in Canada, the US and the UAE, the official added.
His links to the actor’s film acting academy named “Shekhar Suman Film Academy” are being investigated amid reports that he could be the institute’s co-founder, an official said.
The ED conducted search proceedings under the provisions of the Foreign Exchange Management Act, 1999 (FEMA) on Thursday in connection with an investigation relating to Kalanee Impex Private Limited and its active director Sangani, an official statement said.
During the 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, the ED said.
“Export proceeds from certain overseas buyers had not been realised and no extension of time had been obtained from the Authorised Dealer Bank. There were no documented recovery efforts,” it said.
The ED investigation revealed receipt of export proceeds from third-party entities other than the consignee or buyer named in export invoices/shipping bills.
“Evidence relating to undisclosed foreign assets and foreign bank accounts was also found during the proceedings. For example, substantial shareholding of Dharmesh Sangani was found in an undisclosed Canadian company,” the ED said.
“Associated foreign bank account and related transactions were also not disclosed before appropriate authorities. In another instance, undisclosed UAE Business entity has been identified,” the ED added.
“As of now, undisclosed foreign banks’ accounts in Canada, the US and UAE have been identified,” the central probe agency said.
The Customs authorities of the US and the UK are investigating some transactions of Sangani.
The ED is also investigating FEMA violations in such transactions.
–IANS
rch/khz
