ED raids premises of Shekhar Suman-linked jeweller; past UK gold seizure, foreign assets under lens

The Enforcement Directorate (ED) on Thursday searched the premises of Mumbai-based jewellery exporter Dharmesh Sangani, a co-founder of the Shekhar Suman Film Academy, uncovering alleged undisclosed foreign companies, overseas bank accounts, and suspected violations of the Foreign Exchange Management Act (FEMA).

The ED's action also revisits a 2016 incident in which Sangani was intercepted by the UK Border Force at Heathrow Airport with 7.412 kg of undeclared gold jewellery concealed on his person and in his wife's handbag. A London tribunal in 2019 upheld the seizure, ruling that the under-declaration was not an innocent administrative error.

During the searches, the ED said it found evidence of undisclosed foreign companies and bank accounts in Canada, the UAE, and the US. The agency identified an undisclosed Canadian company, KGN Ventures Canada Inc., a Dubai-based firm, Hiramandi Events & Mgmt LLC, and a suspected US entity, GBM Ventures LLC. Foreign credit and debit cards and documents related to overseas assets were also recovered.

The ED alleged that Sangani attempted to destroy digital evidence by throwing his mobile phone from the 13th floor of a building during the searches. The phone was later retrieved and seized.

The agency also disclosed that customs authorities in both the US and the UK are investigating certain transactions involving Sangani. Documents recovered relate to a seizure by the US Customs and Border Protection of a jewellery consignment worth about $3.05 million in June 2025 on allegations of smuggled merchandise and suspected counterfeit trademark goods. The ED is examining whether that consignment is linked to exports from Kalanee Impex, Sangani's company.

The UK case dates to September 4, 2016, when Sangani and his family arrived at Heathrow from Dubai. According to a 2019 judgment, customs officers found that the jewellery declared weighed far less than the quantity he was carrying. The tribunal recorded the total seizure as 7.412 kg after officers recovered additional jewellery from his wife's handbag and from beneath his clothing.

Sangani initially told officers he had nothing more to declare beyond the jewellery covered by customs paperwork. In a subsequent letter seeking restoration of the seized goods, he admitted he had made a mistake in not declaring the full quantity, apologised, and sought its return, citing the impact on his business. The UK authorities refused, holding that there were no exceptional circumstances.

Dismissing his appeal in May 2019, the tribunal concluded that Sangani intended to import part of the jewellery without declaring it and produced the remaining items only after it became apparent they would be discovered.

The ED further alleged that export proceeds worth crores of rupees had not been realised despite the expiry of the period permitted under FEMA and RBI regulations, with no extension obtained. It also found instances where export proceeds were received from third-party entities instead of the overseas buyers named in export documents, and is examining whether such remittances violated FEMA provisions.

Shekhar Suman, an actor and television host, co-founded the Shekhar Suman Film Academy with Sangani. Suman currently hosts a political talk show that has been critical of the government led by Prime Minister Narendra Modi.