Shekhar Suman Film Academy Co-Founder Dharmesh Sangani Under ED Scanner in FEMA Case

The Enforcement Directorate (ED) on Thursday, July 9, conducted searches under the Foreign Exchange Management Act (FEMA) against Kalanee Impex Pvt Ltd and its director, businessman Dharmesh Sangani, over allegations of undisclosed foreign assets, foreign bank accounts and violations relating to export proceeds, officials familiar with the investigation said. Sangani is also a film producer associated with actor and television host Shekhar Suman and the co-founder of the Shekhar Suman Film Academy.

Officials said the searches were carried out “in connection with an investigation relating to M/s Kalanee Impex Private Limited and its director Dharmesh Narendra Sangani.” The agency has alleged multiple FEMA-related violations, including failure to realise export proceeds within the prescribed time and the existence of undisclosed overseas assets. 'Shekhar Tonite': Nitin Gadkari Reacts to Shekhar Suman’s Query on Marathi Language Controversy: Every Language Should Be Proud of Its Culture (Watch Video).

Shekhar Suman Film Academy Co-Founder Dharmesh Sangani Under ED Scanner

ED Alleges Export Proceeds Were Not Realised

According to the Enforcement Directorate, the investigation found that export proceeds that were required to be received in India had not been realised despite a substantial lapse of time.

“During the course of 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. 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,” an ED officer said. Abhishek Banerjee To Appear Before ED Today for Questioning in West Bengal School Job Case.

According to a second official, investigators also found that export proceeds had allegedly been received from third-party entities instead of the consignee or buyer mentioned in export invoices or shipping bills.

Alleged Undisclosed Foreign Assets Identified

The agency claimed to have uncovered evidence of undisclosed foreign assets and foreign bank accounts during the searches.

“For example, substantial shareholding of Dharmesh Sangani was found in an undisclosed Canadian company. 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 second officer said.

Officials said the ED has so far identified undisclosed foreign bank accounts in Canada, the United States and the United Arab Emirates.

According to the agency, Sangani allegedly attempted to destroy digital evidence when ED officials arrived to conduct the searches. “On Thursday, when ED went for the raid, Sangani tried to destroy the digital evidence by throwing his mobile from the 13th floor of a building, for which a complaint was given to Mumbai Police by ED,” the first officer said. “The mobile was later retrieved by ED officers and seized,” the officer added.

Officials said Sangani is also reportedly under investigation by the US Customs authorities in connection with certain transactions. “Earlier in September 2016, UK Border Force officers had seized approximately 7.4 kg of gold jewellery being brought into the UK by Dharmesh Sangani since the same was under-declared. Further investigation is underway,” the second officer said.

The Enforcement Directorate said the investigation is continuing to examine the alleged FEMA violations, undisclosed foreign assets and overseas financial transactions linked to Kalanee Impex Pvt Ltd and its director Dharmesh Sangani. The agency is also examining the material seized during the searches as part of its ongoing probe.

(The above story first appeared on LatestLY on Jul 10, 2026 04:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).