HYDERABAD: The Enforcement Directorate (ED) on Monday grilled representatives of Karimnagar granite companies in connection with FEMA violations. During their searches, the agency officials collected several articles as evidence and asked them to submit a list of documents related to bank transactions, mining permission copies, and transportation details from 2011 to 2021.
Two companies’ directors and auditors appeared before the ED with relevant documents. The agency crosschecked the seigniorage payment details and transportation bills which are collected from the officials of the railways and ports. The agency suspects that the granite companies transported more granite than what has been declared and exported to China and other countries.
The officials of ED found several transactions between the accounts of employees of granite companies with companies in China and Hong Kong and grilled the directors of the granite companies, along with their auditors, on why there were receipts in the bank accounts of the employees.
Earlier, the agency issued notices to 30 members of granite businesses to appear before them. Last week, five members appeared and explained their positions. The source said that other members are also likely to be summoned soon.