Minister issued NBW for FERA violations

Jul 24, 2012 |

Hyderabad

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Economic offences court on Monday issued a Non Bailable Warrant (NBW) against the state minister for secondary education, Mr K. Parthasaradhi, for not attending summons issued by the court under Foreign Exchange Regulation Act (FERA). The minister was managing director of KTR Teleproducts Ltd, that was under the enforcement directorate scanner. A case was registered in 2002 and the economic offences court had levied a fine of Rs 3 lakh on Mr Parthasaradhi. It is alleged that the minister failed to pay the fine and also neglected the repeated summons issued by the court.

The court took cognisance of the situation and issued a NBW against the minister and directed ED officials to implement the warrant before August 25 and posted the matter for the same date. When contacted, the minister clarified that there was a miscommunication and he would attend the next court hearing. “I had sent an advocate to request for a later date as I had prior commitments. Anyway, the court has issued a NBW against me. I will attend the next court hearing in the case and appeal for recall of NBW,” the minister said.

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