ED Investigates Shekhar Suman’s Associate Over 'Undisclosed' Foreign Assets
ED investigates Shekhar Suman’s associate Dharmesh Sangani for alleged FEMA violations.
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The Enforcement Directorate (ED) has initiated an investigation against Dharmesh Sangani, a businessman and associate of actor and television host Shekhar Suman, for alleged violations under the Foreign Exchange Management Act (FEMA). The probe centres on undisclosed foreign assets, foreign bank accounts, and irregularities in export proceeds linked to Sangani’s company, Kalanee Impex Private Limited. Searches were conducted at multiple premises in Mumbai on 9 July 2026, and evidence was seized for further examination.
According to Hindustan Times, the ED’s investigation revealed that export proceeds from certain overseas buyers had not been realised in India, and no extension of time had been obtained from the authorised dealer bank. Officials stated that there were no documented recovery efforts for these outstanding amounts, raising concerns about compliance with FEMA regulations.
As highlighted by undefined, the ED also discovered evidence of undisclosed foreign assets and bank accounts in Canada, the United States, and the United Arab Emirates. Substantial shareholding in an undisclosed Canadian company and an unreported UAE business entity were identified during the search proceedings. The agency stated, “Associated foreign bank account and related transactions were also not disclosed before appropriate authorities.”
Further investigation details indicated that export proceeds had been received from third-party entities rather than the consignee or buyer named in the export invoices or shipping bills. Officials also noted that Sangani allegedly attempted to destroy digital evidence by throwing his mobile phone from the 13th floor of a building during the ED’s search operation. The device was later retrieved and seized by the agency.
“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,” an official said.
Additional coverage revealed that Sangani’s links to Shekhar Suman include co-founding the Shekhar Suman Film Academy. The ED is examining whether any financial transactions related to the academy are connected to the alleged FEMA violations. The agency also confirmed that undisclosed bank accounts in Canada, the US, and the UAE have been identified as part of the ongoing probe.
International authorities are also involved, as reporting indicated that the US Customs authorities are investigating certain transactions linked to Sangani. In a previous incident in September 2016, UK Border Force officers seized approximately 7.4 kg of gold jewellery being brought into the UK by Sangani due to under-declaration. The ED is coordinating with foreign agencies to examine the full extent of cross-border financial activities.
“Evidence relating to undisclosed foreign assets and foreign bank accounts was also found during the proceedings. For example, substantial shareholding of Dharmesh Sangani was found in an undisclosed Canadian company,” the ED stated.
At the end of the search operation, officials confirmed that further investigation is underway to determine the source and movement of funds, as well as compliance with Indian and international financial regulations. The ED has not yet announced any arrests or formal charges, and the probe remains active as authorities analyse the seized evidence.
Note: This article is produced using AI-assisted tools and is based on publicly available information. It has been reviewed by The Quint's editorial team before publishing.