NEW DELHI: The Directorate of Enforcement (ED) is conducting searches at multiple premises of the Hiranandani Group in Mumbai on charges of violations under the Foreign Exchange Management Act (FEMA), according to sources.

Exact details about the charges that were framed against the Group were not known at the time of filing this report.

Hiranandani Group has been one of the most premium real estate developer in India with more than 40 years of experience in this business.

Niranjan Hiranandani is a co-founder and Managing Director of Hiranandani Group of Companies.