Brief by Shorts91 Newsdesk / 12:47pm on 22 Feb 2024,Thursday India
Enforcement Directorate (ED) conducted raids on Thursday at four locations of the Hiranandani Group, a leading real estate developer in India, including three in Mumbai and one in Panvel. Sources reveal the action is linked to alleged violations of FEMA rules based on new inputs related to foreign exchange. Notably, the investigation is clarified to have no connection with Trinamool Congress leader Mahua Moitra. Hiranandani Group, founded in 1978, has delivered 48 million sq ft of real estate and plans upcoming projects in Alibaug, Khandala, and Chennai, according to reports.
