Hiranandani Constructions Co-Founder Gets Anticipatory Bail
It was just one day after the Central Bureau of Investigation (CBI) issued a lookout notice against the co-founders of Hiranandani Constructions, Niranjan Hiranandani and Surendra Hiranandani, that Niranjan presented himself before the special CBI court and was handed anticpatory bail.
"In 2008, the CBI had registered a case of criminal conspiracy and cheating against the two directors of the Hirandani group in an alleged Rs 160 crore Employment Provident Fund (PF) scam."
The allegations from the CBI were that the Hiranandani Group had not desposited provident funds into the accounts of their employeers during the year of 2003-2004. The CBI argued that Niranjuan's bail should be cancelled because he is also an accused in the case.
“The court granted him (Niranjan) protection, asked him to deposit Rs 1 lakh, and directed him not to leave the country,” said public prosecutor Ejaz Khan.