Look-out notices against Hiranandanis
The CBI has issued look-out notices against two directors of the Hiranandani Group in connection with an alleged Provident Fund (PF) scam. Hiranandani Group has business interests in real estate development within the country and abroad. The directors – Niranjan and Surendra Hiranandani- have been named as accused in an FIR lodged by CBI on March 29, 2008 for an alleged fraud in provident fund deposits. They’re accused of defaulting on Rs 9.36 crore due as provident fund for their employees for 2003-2004.
According to the Anti-Corruption wing of CBI, Hiranandani group had not deposited provident fund of their employees in the year 2003-04. The alleged non-payment, as per a report filed by the Employee Provident Fund Organisation (EPFO) in its departmental enquiry, is to the tune of Rs 9.36 crores. The directors – Niranjan and Surendra Hiranandani failed to respond to the notices sent to their residences directing them to remain present for questioning before CBI. The CBI has issued look-out notices to all airports in the country.
“We do not know where they are, hence “look-out” circulars have been issued against them in all the airports across the nation. Now with the look out circulars issued, we would be intimated by airport immigration officials, if the two accused either fly out or in the city” CBI DIG Praveen Salunkhe said.
Apart from Niranjan and Surendra, two other employees of the group and four officials from the EPFO have also been shown as accused in the case. A special CBI court had last week granted anticipatory bail to two employees – Joseph Reddy, the general manager and Cyrus Pithawala, the project director of the company.
The CBI is worried that Niranjan and Surendra Hiranandani, brothers and co-owners of the Hiranandani Group, may try to leave the country. They’re accused of defaulting on Rs 9.36 crore due as provident fund for their employees for 2003-2004. Recently, they’ve ignored summons to appear in court.
The Hiranandanis have also been at the centre of another controversy. Hiranandanis had entered into an agreement with the MMRDA and the state to develop the 230-acre land under the Urban Land Ceiling (Regulation) Act in 1986, to build smaller flats for low- income groups in Powai. Instead, it created and sold mammoth luxury flats.
Source:
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[...] Group director, Niranjan Hiranandani, against whom CBI had issued a look-out notice in connection with an alleged over Rs nine crore Provident Fund scam, was granted anticipatory bail [...]