Foreign Asset case: I-T raids on premises linked to Hiranandani group

The income tax (IT) department is conducting searches at 24 locations on premises linked to Mumbai-based real estate major, the Hiranandani Group, sources said.

The pan-India searches are currently underway in Mumbai, Bengaluru and Chennai, these sources added.

“The raids are underway in connection with a foreign asset case. The group’s founders, brothers: Niranjan and Surendra are being probed in connection with their undisclosed offshore investments in a trust,” a source familiar with the developments told ET.


Hiranandani group wasn’t immediately available for comment.

According to investigation carried out by the ICIJ in 2021, the group was named in the Pandora papers which stated that the Hiranandani Group, and key members of Niranjan Hiranandani’s family were beneficiaries of a Trust with assets of over $60 million.