| The Central Bureau of Investigation (CBI) conducted searches at seven premises of the promoters of the Hiranandani Group, Niranjan and Surendra, for under-reporting employee numbers and evading employee provident fund (EPF) payments.
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| According to the CBI’s report, officials of the Regional Provident Fund Commissionerate, Mumbai, and two directors entered a criminal conspiracy to cheat and prepare bogus bills of provident fund contributions of five of the group companies and this contribution was not paid to the exchequer.
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| A CBI release said it is alleged that the officers of the Regional Provident Fund Commissionerate had inspected the five firms of the group and found that for financial year 2004-05, they had not paid provident fund contribution of Rs 8.47 crore.
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| Later, only Rs 2.20 lakh was deposited towards PF liabilities. Further, one of the group companies had unpaid PF liabilities running to Rs 160 crore for the financial year 2003-04.
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| Niranjan Hiranandani, managing director of Hiranandani Constructions, said there was some miscommunication between his company and the EPFO, which had resulted in the development.
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| “We have abided with all norms and laws. We are fully cooperating with the investigating agencies,” he said. Hiranandani further said that investigations were still underway and all PF dues had been paid. |
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