The Economic Offences Court in Nampally on Monday issued a non-bailable arrest warrant against Secondary Education Minister K Parthasarathy for violation of Foreign Exchange Regulation Act.
According to Enforcement Directorate, the Minister violated FERA Rules and did not pay the amount for importing machinery from abroad during his tenure as Managing Director of KPR Tele Products Limited in 2002. For violating the rules, the Enforcement Directorate has imposed a penalty of Rs 3 lakhs on Parthasarathy.
However, Parthasarathy reportedly did not pay the penalty despite repeated notices and did not cooperate with the investigation agency during the probe. Later, the Enforcement Directorate filed a petition in the Economic Offences Court. However, the minister neither responded to the court notices nor turn up in the court.
Following this, the court issued a non-bailable arrest warrant against the minister.
–Agencies