KARIMNAGAR: The Enforcement Directorate (ED) issued notices to nine granite companies in Karimnagar, including Swetha Agencies, owned by BC Welfare Minister Gangula Kamalakar’s brother, for violating the Foreign Exchange Management (FEMA) Act, 1999. The companies have reportedly met with Chartered Accountants to help them respond to the ED’s notices.
The notices were issued based on complaints by an advocate Beti Mahender Reddy on July 8, 2021, and by YSRCP State Executive Member Singireddy Bhaskar Reddy years ago in 2013. Apart from them, several non-governmental agencies working on environmental protection had also complained to the ED against the granite firms.
About two years ago, Karimnagar MP Bandi Sanjay Kumar had also complained to Home Minister Amit Shah and Finance Minister Nirmala Sitharaman regarding the firms. Shah had reportedly recently told Bandi that if the firms were found to be transporting granite blocks illegally and evading various taxes, serious action would be taken against them.
The ED also issued a notice to Chennai-based Elite Shipping Agencies India Private Ltd. for violating the FEMA, 1999. The granite companies exported granite blocks from Karimnagar to various countries via Kakinada and Krishnapatnam ports. The firms which have been issued notices are Swetha Agencies, AS Shipping, JM Baxi & Company, Maithili Aditya Transport, KVK Energy, Aravind Granites, Sandhya Agencies, PSR Agencies and Sri Venkateshwara Granites/Venkateshwara Logistics.
DETAILS SOUGHT FROM SHIPPING AGENCIES
The ED has also asked shipping agencies to furnish information regarding details of granite exported by the nine firms, including company particulars, phone numbers, email IDs, and relevant documents. The firms exported granite via sea ports.