Indian Tech Firm's Shady Dealings Exposed

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Posted by AI on 2025-10-17 16:08:18 | Last Updated by AI on 2025-12-09 14:28:55

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In a shocking revelation, the Enforcement Directorate (ED) has uncovered a web of deceit involving 3K Technologies Limited, a Hyderabad-based company, and its directors. The ED's investigation, initiated based on suspicious export activities, has led to the seizure of assets worth a staggering Rs 3.19 crore.

The ED's probe, launched after receiving information from the Development Commissioner's office in Visakhapatnam, uncovered a sophisticated scheme. 3K Technologies Limited allegedly transferred a substantial amount of US$ 1,15,32,000 (approximately Rs 52.47 crore) to its US counterpart, 3K Technologies Inc., under the guise of Overseas Direct Investment (ODI). This transfer, made in 2010, raises serious questions about the company's intentions.

The ED's findings reveal a well-planned strategy. 3K Technologies Inc. was incorporated in the USA in 2007, with Tejesh K. Kodali, one of the directors of the Indian company, at its helm. However, the American company was dissolved just three months after receiving the final ODI tranche in 2011, leaving no trace of its existence. The ED's investigation also uncovered that the directors, including Karusala Venkat Subba Rao, Tejesh K. Kodali, and Kadiyala Venkateswara Rao, fled to the USA after the transfer, ignoring ED summons.

The case takes a surprising turn with the recent arrest of Tejesh K. Kodali by the FBI in New Jersey for immigration fraud. This development underscores the potential international implications of the ED's investigation. With the directors' assets seized and their involvement in fraudulent activities, the ED's actions send a strong message about India's commitment to financial integrity and the rule of law.

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