The Enforcement Directorate (ED) on Thursday conducted searches under the Foreign Exchange Management Act (FEMA) against Kalanee Impex Pvt Ltd and its director, businessman Dharmesh Sangani, over allegations of undisclosed foreign assets, foreign bank accounts and violations relating to export proceeds, officials familiar with the investigation said. Representational image. Sangani is also a film producer associated with actor and television host Shekhar Suman and is the co-founder of the Shekhar Suman Film Academy. Officials said the searches were carried out “in connection with an investigation relating to M/s Kalanee Impex Private Limited and its director Dharmesh Narendra Sangani.” “During the course of search proceedings, it was revealed that money which ought to have been received in India has not come to India despite lapse of substantial time. Export proceeds from certain overseas buyers had not been realised and no extension of time had been obtained from the Authorised Dealer Bank. There were no documented recovery efforts,” an ED officer said. According to a second official, the investigation also revealed that export proceeds had been received …