Telangana: ED searches premises of Congress’ Vivek Venkatswamy in FEMA violation probe
THE JHARKHAND STORY DESK Hyderabad, Nov 21: As part of an investigation into potential foreign currency violations, the Enforcement Directorate searched the…
THE JHARKHAND STORY DESK
Hyderabad, Nov 21: As part of an investigation into potential foreign currency violations, the Enforcement Directorate searched the premises of Vivek Venkatswamy, a Congress candidate running for the Chennur seat in Telangana, and a few other people on Tuesday, official sources stated.
They stated that the searches in Chennur and Hyderabad are being conducted by the federal agency in accordance with the provisions of the Foreign Exchange Management Act (FEMA).
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Earlier this month, the former Member of Parliament (MP) resigned from the Bharatiya Janata Party (BJP) and, in the presence of Rahul Gandhi, joined the Congress in Hyderabad.
Vivek, contesting the upcoming November 30 assembly polls in Telangana, holds the distinction of being the wealthiest politician with declared assets exceeding Rs 600 crore.
Vivek and his spouse possess movable assets valued at Rs 377 crore, predominantly in the form of shares in different companies, including Visaka Industries, a company established in 1981.
The family’s immovable assets are valued at over Rs 225 crore. As per the filed affidavit, Vivek and his wife have liabilities or loans amounting to Rs 41.5 crore. In the past fiscal year, Vivek’s annual income saw a rise from Rs 4.66 crore to Rs 6.26 crore, while his wife’s income increased from Rs 6.09 crore to Rs 9.61 crore during the same period.
