The Enforcement Directorate (ED) on Thursday conducted searches at multiple premises linked to Mumbai-based Kalanee Impex Pvt Ltd and its directors under the Foreign Exchange Management Act (FEMA), alleging violations involving unrealised export proceeds, undisclosed overseas assets and suspicious cross-border transactions.
The searches were carried out by the ED's New Delhi-based Headquarters Investigation Unit (HIU) at premises linked to the company and its directors — Dharmesh Sangani, Narendra Sangani and Rajeeta Dharmesh Sangani. Notably, Dharmesh Sangani is the producer of political satire show 'Shekhar Tonite With Shekhar Suman'
The searches were conducted in connection with an alleged foreign exchange violation case. According to the ED, the searches unearthed evidence of undisclosed foreign companies, overseas bank accounts allegedly linked to Dharmesh Sangani and documents relating to suspicious cross-border transactions. The agency alleged that these foreign entities and bank accounts were not disclosed in income tax returns and added that it is examining their ownership structure, the source of funds and the financial transactions associated with them.
During the searches, ED officials alleged that Dharmesh Sangani attempted to throw his mobile phone from the 13th floor of his residential building on SV Road in Malad (West). The device was subsequently retrieved by agency officers, following which the ED lodged a complaint with the Mumbai Police alleging destruction of evidence.
Dharmesh Sangani is a film producer and co-founder of the Shekhar Suman Film Academy. He also produced Shekhar Tonite which premiered on Shekhar Suman's official YouTube channel in May this year. According to the academy's website, Sangani founded the institution with the aim of combining his entrepreneurial background with a focus on creative education and talent development.
The searches were carried out as a part of an investigation into the company's overseas business dealings. According to the ED, the investigation found that export proceeds worth several crores of rupees remained unrealised beyond the period prescribed under the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, and the Reserve Bank of India's Master Direction on Export of Goods and Services. The agency alleged that the company had not obtained any extension from its authorised dealer banks or the RBI for the delayed realisation of export proceeds, as required under the applicable regulatory framework.
Officials said the Customs Department had, in May this year, issued a public notice identifying Kalanee Impex among exporters whose shipping bills remained unreleased, based on customs records.
The agency further alleged that in several export transactions, the company received export proceeds from third-party entities instead of the overseas buyers or consignees named in the export invoices and shipping bills. The ED said it is examining the legality of these remittances, the underlying commercial rationale for such payments, and whether they complied with the provisions of FEMA and the Reserve Bank of India's regulations.
During the searches, the agency also recovered documents relating to the seizure of a jewellery consignment worth about USD 3.05 million by the U.S. Customs and Border Protection in June 2025. According to the ED, the consignment was seized under U.S. laws in connection with alleged smuggled merchandise and suspected counterfeit trademark goods. The agency is examining whether the seized consignment is linked to exports made by Kalanee Impex from India.
The ED further said that Dharmesh Sangani had earlier been intercepted at Heathrow Airport in London in September 2016, when authorities allegedly seized 7.412 kg of under-declared gold jewellery that he was carrying into the United Kingdom.
Several documents and digital devices were seized during Thursday's searches. The agency said it is analysing the material to ascertain the full extent of the alleged FEMA violations, trace overseas assets, establish the money trail and identify the role of those involved.
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