Actor-TV Host Shekhar Suman’s Associate Faces ED Action in FEMA Probe Over Alleged Foreign Assets
The Enforcement Directorate (ED) has conducted search operations against Mumbai-based businessman and film producer Dharmesh Sangani, an associate of actor and television host Shekhar Suman, in connection with an investigation under the Foreign Exchange Management Act (FEMA). The searches were carried out at premises linked to Kalanee Impex Pvt. Ltd. and Sangani as part of an inquiry into alleged foreign exchange violations.
According to the ED, investigators have uncovered indications of undisclosed foreign assets, overseas bank accounts, and cross-border financial transactions that were allegedly not reported to Indian authorities. The agency stated that evidence points to substantial shareholding in an undisclosed Canadian company, along with links to business entities and bank accounts in Canada, the United States, and the United Arab Emirates.
The probe has also focused on export-related transactions handled by Kalanee Impex. The ED alleges that export proceeds from certain overseas buyers were not repatriated to India within the prescribed period, while payments were reportedly received from third-party entities different from those named in export documentation. Investigators further claim that no documented recovery efforts or regulatory extensions were obtained where required under FEMA norms.
Officials added that some of Sangani’s international commercial dealings are also under examination by customs authorities in the United States and the United Kingdom. However, the ED has not disclosed the total value of the alleged foreign assets or whether any assets have been frozen or seized during the searches.
Dharmesh Sangani is associated with the entertainment industry as a film producer and is reported to be the co-founder of the Shekhar Suman Film Academy alongside Shekhar Suman. Media reports have highlighted the association because of Suman’s public profile, though the ED’s investigation is directed at Sangani and entities linked to him. There has been no indication from the agency that Shekhar Suman himself is an accused in the FEMA investigation.
FEMA primarily governs foreign exchange transactions and compliance relating to overseas assets, investments, and remittances. Violations under the law are generally civil in nature, although investigations may lead to proceedings under other statutes if evidence of additional offences emerges during the course of the probe.
