The Enforcement Directorate (ED) has reportedly issued a showcause notice to Swetha Granites and Swetha Agencies belonging to the family members of Civil Supplies Minister Gangula Kamalakar for alleged violation of the Foreign Exchange Management Act (FEMA), to the tune of ₹4.8 crore in the export of granite blocks to China.
This move follows the ED’s investigation into violation of the FEMA provisions and the subsequent searches conducted by the Agency on the premises of Swetha Granites and Swetha Agencies besides a few other granite firms owned by some granite barons in Karimnagar and Hyderabad in November last year, sources said.
The ED had initiated the investigation based on the State Vigilance and Enforcement Department’s earlier report on certain irregularities in granite mining and export of granite blocks.
