Court relief for Hiranandani

MUMBAI: A special court on Wednesday granted interim bail to builder and director of the Hiranandani group, Niranjan Hiranandani. Niranjan and Surendra Hiranandani have been named as accused in an FIR lodged by the CBI in 2008 for an alleged fraud in provident fund deposits.
According to the CBI, the group had not deposited their employees' PF for 2003-04.The alleged non-payment, according to a report filed by the Employee Provident Fund Organisation (EPFO) in its inquiry report, is to the tune of Rs 9.36 crore.
Niranjan, who has been granted relief from arrest until August 13, was asked by the court to not leave India and report to the CBI whenever called to do so. Surendra did not approach court for anticipatory bail but sources have told TOI that he is likely to do so on Thursday.
On Wednesday, the Hiranandani group also put out a press release saying it had been cooperating with the CBI since 2006. It said that the initial allegation was of a fraud of Rs 168 crore but it was drastically watered down to Rs 9.36 crore.