HYDERABAD: While it continued its searches on various granite companies over alleged tax evasion and Fema violations, the Enforcement Directorate on Thursday stumbled upon some documents from Exotica Granite Exports, owned by TRS Rajya Sabha MP Vaddiraju Ravichandra’s son, Vaddiraju Sai Nikhil Chandra, and seized them, reports U Sudhakarreddy.
Though the search was not intended to cover the MP, ED sleuths visited his office in Hyderabad’s Srinagar Colony, which Gangula Sandeep, son of backward classes welfare minister Gangula Kamalakar, shares with him. Sandeep is the son-in-law of Ravichandra.
EDinvestigations found certain companies getting money from China in the form of loans from Chinese entities for the granite exported. The ED also found several irregularities, such as granite material being exported to China and the money not coming back, indicating the likely possibility of hawala transactions.
The MP, whose family owns Gayatri Granites, told TOI, “There were no searches on Gayatri Granites or me. However, ED sleuths accidentally visited my son’s company, Exotica Granites, and seized documents as my son-inlaw also works from there. Exotica is a small firm and has done limited volumes of business. ED sleuths have handed over a seizure panchnama. We’re ready to face any probe. There are no irregularities from our side. ”
Though the search was not intended to cover the MP, ED sleuths visited his office in Hyderabad’s Srinagar Colony, which Gangula Sandeep, son of backward classes welfare minister Gangula Kamalakar, shares with him. Sandeep is the son-in-law of Ravichandra.
EDinvestigations found certain companies getting money from China in the form of loans from Chinese entities for the granite exported. The ED also found several irregularities, such as granite material being exported to China and the money not coming back, indicating the likely possibility of hawala transactions.
The MP, whose family owns Gayatri Granites, told TOI, “There were no searches on Gayatri Granites or me. However, ED sleuths accidentally visited my son’s company, Exotica Granites, and seized documents as my son-inlaw also works from there. Exotica is a small firm and has done limited volumes of business. ED sleuths have handed over a seizure panchnama. We’re ready to face any probe. There are no irregularities from our side. ”
