HYDERABAD: The ED has speeded up the investigation into the violation of FEMA and illegally exporting granite blocks from Karimnagar to China and other countries.
Sleuths have summoned the directors of granite firms along with key persons handling the export operations and employees of the respective accounts departments asking them to appear before November 18.
The agency conducted searches and found hawala links between the granite firms with companies from China and seized Rs 1.08 crore. However, officials suspect that the firms didn’t receive the money directly from Chinese and Hongkongese companies and that it was sent to the accounts of its employees.
ED is also likely to interrogate railway and port officials, who were colluding with granite firms in the illegal export, causing over Rs 100 crore loss to the public exchequer. The agency will also likely ask the directors why they failed to pay the penalty imposed by the government in 2013.