Warrant Against Minister For FERA Violation

The Economic Offences Court in Nampally, on Monday, issued a non-bailable arrest warrant against Secondary Education minister K Parthasarathy, for his alleged violation of the Foreign Exchange Regulation Act.

According to the Enforcement Directorate, the minister had violated the rules of FERA - during his tenure as the managing director of KPR Tele Products Limited in 2002, he allegedly did not pay up the amount due for importing machinery from abroad. The Enforcement Directorate had slapped 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 turned up in court.

Following this, the court issued a non-bailable arrest warrant against the minister. (INN)