Congress MLA Gaddam Vivek Attended The ED Inquiry | MLA Vivek : Congress MLA for ED

MLA Vivek Attended ED investigation: Chennuru Congress MLA Gaddam Vivek Venkataswamy appeared earlier than the ED on Thursday. He appeared earlier than the ED in reference to the Hawala and FEMA case registered in Hyderabad earlier than the elections. A case has been registered in opposition to a big deposit of funds in a personal safety agency. Rs.8 crores have been transferred from Visakha Industries to Personal Safety Firm. The police registered a case in the course of the election itself. A prolonged investigation was carried out in Visakha Industries and Vigilance Securities instances.

On November 21, 2023, two days earlier than the Telangana Meeting elections, the investigation company carried out searches in 4 areas of Telangana. Gaddam Vivek’s home and places of work have been searched. The assaults got here after Vivekananda introduced the Congress candidate for the Chennuru meeting seat, leaving the BJP. It appears that evidently the ED primarily centered on why they needed to deposit funds of over Rs.8 crore from Visakha Business within the non-public safety firm. The ED officers are presently inquiring concerning the deposits of funds. It was discovered that the cash was transferred by means of the checking account of Vigilance Safety with none actual enterprise rationale.

Dr G Vivek, his spouse and their firm Visakha Industries vigilance safety for Rs. It’s mentioned that the ED investigation revealed that greater than 100 crores of transactions have been performed. The corporate in its newest stability sheet has simply Rs. 20 lakhs as ‘revenue from operations’. It’s primarily long run loans/advances price Rs. 64 crores reported property. Since inception, credit score and debit transactions within the firm’s checking account as much as Rs. 200 crores discovered to be greater than Rs. ED sources say that the investigation has additionally revealed that Dr. G Vivek has oblique management over Vigilance Safety.

The ED investigation mentioned Vigilance Safety Companies and its guardian Yashwant Realtors have been prima facie responsible of FEMA violations. Its majority shares are held by international nationals. FEMA additionally discovered violations in merging Vivek’s firm. The ED mentioned the search operations resulted within the restoration, seizure of digital units and paperwork indicating suspicious transactions price a number of crores in addition to unaccounted money in property offers. The seized paperwork revealed massive scale inter-corporate deposits in group corporations with no authentic enterprise, large land holdings. ED officers questioned Vivek on them.

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