New Delhi, July 10 -- The Directorate of Enforcement (ED) on Friday said that they recently conducted search operations under the Foreign Exchange Management Act (FEMA) in connection with an investigation against Kalanee Impex Pvt Ltd and its active director, Dharmesh Narendra Sangani, uncovering evidence of undisclosed foreign assets, foreign bank accounts and suspicious cross-border transactions.
According to the ED, searches were carried out on July 9 as part of an ongoing probe into alleged FEMA violations. The agency said export proceeds that were required to be repatriated to India had not been realised despite a substantial lapse of time. In several cases, no extension for realisation of export proceeds had been obtained from the au...