Overview
- The Enforcement Directorate conducted FEMA searches at multiple Kalanee Impex premises and at director Dharmesh Narendra Sangani’s Mumbai addresses on Thursday, seizing documents, mobile devices and records for further examination.
- ED officials say the searches uncovered evidence of undisclosed foreign bank accounts and overseas entities tied to Sangani, including substantial shareholdings in a Canadian company and an identified UAE business.
- The agency alleges export proceeds from some overseas buyers were not repatriated to India within the required time, no extension was sought from the authorised dealer bank, and some receipts came from third-party entities rather than named buyers.
- Investigators allege Sangani tried to destroy digital evidence by throwing a mobile phone from the 13th floor during the operation; the device was recovered, a destruction-of-evidence complaint was filed with Mumbai Police, and seized items are now under forensic analysis.
- The ED is coordinating with US and UK customs authorities to follow transaction leads that include a June 2025 US Customs seizure and a 2016 UK gold seizure mentioned in recovered files; the probe is ongoing and no arrests or charges have been announced.