ED raids Mumbai film producer over foreign assets

The Enforcement Directorate conducted searches on Thursday, July 9, 2026, at premises linked to Mumbai-based businessman Dharmesh Sangani and his company, Kalanee Impex Private Limited, as part of an investigation into alleged violations of the Foreign Exchange Management Act. The action centers on accusations of undisclosed foreign assets, suspicious cross-border transactions, and the non-receipt of export proceeds.

Officials stated that during the search proceedings, evidence was uncovered suggesting Sangani held substantial, previously undisclosed shareholding in a Canadian company. The agency also identified undisclosed foreign bank accounts in Canada, the United States, and the United Arab Emirates allegedly linked to him. A key allegation is that export proceeds from certain overseas buyers were not realized in India within the stipulated time frame, with no extension sought from the authorized bank. The ED further stated that in some instances, export payments were received from third-party entities not named on the official shipping documents.

An incident during the search has led to additional legal trouble for Sangani. Officials alleged he attempted to throw his mobile...