FEMA Case Probe: ED Searches Premises Of Congress Telangana Candidate Vivek Venkatswamy

The Enforcement Directorate (ED) on Tuesday searched the premises of Congress candidate from Telangana’s Chennur seat Vivek Venkatswamy and some others as part of a foreign exchange violation probe.

They stated that the federal agency is undertaking the searches under the provisions of the Foreign Exchange Management Act in Chennur & Hyderabad.

Early this month, the former MP resigned from the BJP and joined the Congress in the presence of party leader Rahul Gandhi in Hyderabad. With declared assets worth over Rs 600 crore, Vivek is the richest politician contesting the November 30 assembly polls in Telangana.

Vivek and his wife own movable assets valued at Rs 377 crore, mostly shares in many companies, including his own Visaka Industries, which was founded in 1981. The family’s immovable assets stood at over Rs 225 crore.

According to the affidavit filed by him, Vivek and his wife have liabilities/loans worth Rs 41.5 crore.

Vivek’s annual income grew to Rs 6.26 crore during the last fiscal from Rs 4.66 crore in FY19 while that of his wife rose to Rs 9.61 crore from Rs 6.09 crore during the same period.

Meera Verma

Recent Posts

Supreme Court Says “Marriage Is Relationship Built On Mutual Trust, Companionship”

The Supreme Court has upheld a decision by the Madras High Court granting a divorce…

2 days ago

Delhi HC Grants Anticipatory Bail To Lawyer In Brother’s Criminal Case

The Delhi High Court has granted transit anticipatory bail to a lawyer whose brother is…

2 days ago

Justice Madan B Lokur Appointed As Chairperson of UN Internal Justice Council

Former Supreme Court Justice Madan B Lokur has been recently named the chairperson of the…

2 days ago

Karnataka High Court Directs NLSIU To Implement 0.5% Reservation For Transgender Persons

The Karnataka High Court has recently directed the National Law School of India University (NLSIU)…

2 days ago

Allahabad HC Directs UP Vigilance To Investigate Himalayan Cooperative Housing Land Issue

The Allahabad High Court has directed the Uttar Pradesh Vigilance Department to investigate the Himalayan…

2 days ago

Allahabad HC Grants Stay On Mohammed Zubair’s Arrest In Religious Enmity Case

The Allahabad High Court on Friday issued an order staying the arrest of Mohammed Zubair,…

2 days ago