ED raids Kalanee Impex over undisclosed US, UK, UAE assets linked to Shekhar Suman associate
Synopsis
The ED has raided Mumbai-based Kalanee Impex and its director Dharmesh Sangani — a reported associate of actor Shekhar Suman — uncovering undisclosed bank accounts in Canada, the US, and the UAE, unrepatriated export proceeds, and a possible link to Shekhar Suman's film academy. US and UK customs authorities are also separately probing Sangani's transactions.
Key Takeaways
The Enforcement Directorate searched Kalanee Impex Private Limited in Mumbai on 10 July under FEMA, 1999 .
Active director Dharmesh Sangani is a reported associate of actor Shekhar Suman and is believed to hold stakes in film production.
Undisclosed foreign bank accounts in Canada , the US , and the UAE , plus an undisclosed Canadian company and a UAE business entity , were identified.
Export proceeds were not repatriated to India and were allegedly received from third-party entities not named in the original invoices.
Sangani's alleged role as co-founder of the Shekhar Suman Film Academy is also under investigation.
Customs authorities in the US and the UK are separately probing Sangani's transactions.
The Enforcement Directorate (ED) on Thursday, 10 July conducted searches at the premises of Kalanee Impex Private Limited in Mumbai, targeting its active director Dharmesh Sangani over alleged Foreign Exchange Management Act (FEMA) violations, undisclosed foreign assets, and suspicious cross-border transactions. Sangani is reportedly a close associate of Bollywood actor Shekhar Suman and is believed to hold stakes in film production.
What the ED Found
During search proceedings conducted under FEMA, 1999, investigators found that export proceeds from certain overseas buyers had not been repatriated to India despite the lapse of substantial time. According to the ED, no extension of time had been obtained from the authorised dealer bank, and there were no documented recovery efforts made by the company.
The agency also uncovered evidence that export proceeds were received from third-party entities other than the consignee or buyer named in the export invoices and shipping bills — a red flag under foreign exchange regulations.
Undisclosed Foreign Assets Identified
The ED's statement revealed that Dharmesh Sangani held substantial shareholding in an undisclosed Canadian company, along with an associated foreign bank account whose transactions were never disclosed before appropriate Indian authorities. Additionally, an undisclosed business entity in the UAE was identified during the probe.
'As of now, undisclosed foreign bank accounts in Canada, the US, and the UAE have been identified,' the central probe agency said in its official statement.
Shekhar Suman Film Academy Link Under Scrutiny
Investigators are also examining Sangani's alleged links to the Shekhar Suman Film Academy, the acting institute associated with the actor. According to officials, Sangani could be the academy's co-founder, though this is reportedly still under investigation. The actor himself has not been named as a suspect or accused in the ED's proceedings so far.
US and UK Customs Also Probing Transactions
The scope of the investigation extends beyond India. Customs authorities in the US and the UK are separately investigating certain transactions involving Sangani, according to officials. The ED is simultaneously probing FEMA violations in connection with those same transactions, indicating the possibility of coordinated cross-jurisdictional scrutiny.
What Happens Next
The ED is expected to continue its FEMA investigation into Kalanee Impex and Sangani's overseas financial interests. Formal notices or summons may follow the search proceedings as the agency works to quantify the extent of alleged foreign exchange violations. The involvement of US and UK customs authorities suggests the case could develop into a broader international financial compliance matter.
Point of View
Still unverified, adds a reputational dimension that could draw public attention disproportionate to what is, at this stage, an investigation rather than a prosecution. The real story to watch is whether the unrepatriated export proceeds can be tied to the offshore entities — that linkage would determine the severity of the eventual FEMA charge.
NationPress
10 Jul 2026
Frequently Asked Questions
Why did the ED raid Kalanee Impex?
The ED searched Kalanee Impex Private Limited in Mumbai on 10 July under FEMA, 1999, over alleged foreign exchange violations including unrepatriated export proceeds, undisclosed foreign bank accounts in Canada, the US, and the UAE, and suspicious receipt of funds from third-party entities not named in export invoices.
Who is Dharmesh Sangani?
Dharmesh Sangani is the active director of Kalanee Impex Private Limited and is reportedly a close associate of Bollywood actor Shekhar Suman. He is also believed to hold stakes in film production and is allegedly linked to the Shekhar Suman Film Academy, though his exact role there is still under investigation.
Is actor Shekhar Suman accused in this case?
No. As of the ED's official statement, Shekhar Suman has not been named as a suspect or accused. The investigation targets Dharmesh Sangani and Kalanee Impex; the actor's name surfaces only through Sangani's reported association with him and alleged links to his film academy.
What FEMA violations are alleged against Sangani?
Alleged violations include failure to repatriate export proceeds to India within the stipulated time, absence of any extension request from an authorised dealer bank, receipt of proceeds from third parties not named in shipping documents, and non-disclosure of foreign bank accounts and overseas business entities before Indian authorities.
Are foreign agencies also involved in the probe?
Yes. Customs authorities in the US and the UK are separately investigating certain transactions involving Sangani, according to officials. The ED is simultaneously probing FEMA violations related to those same transactions, suggesting possible cross-jurisdictional coordination.
