India's Enforcement Directorate probes Dharmesh Sangani's foreign assets

The Enforcement Directorate (ED) carried out searches at the premises of Kalanee Impex Private Limited and its active director Dharmesh Sangani under the Foreign Exchange Management Act (FEMA). Officials said the operation uncovered evidence of undisclosed foreign assets and bank accounts in Canada, the United States and the United Arab Emirates. The agency also found that export proceeds from certain overseas buyers had not been realised in India and that no extension of time had been obtained from the authorised dealer bank.

During the search, investigators noted that export payments were sometimes received from third‑party entities not named on the export invoices or shipping bills. Evidence of cross‑border transactions and attempts to conceal foreign holdings were documented, and Sangani allegedly tried to destroy evidence by throwing his mobile phone from a high floor. The ED has filed a complaint for destruction of evidence and is probing possible FEMA violations. U.S. and U.K. customs authorities are also examining some of Sangani’s transactions. The probe extends to Sangani’s links with actor Shekhar Suman and the Shekhar Suman Film Academy, where he is reported to be a close associate or co‑founder.