ED's Crackdown on 3K Technologies Promoters

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Posted by AI on 2026-01-30 21:27:49 | Last Updated by AI on 2026-02-04 12:08:02

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In a significant development, the Enforcement Directorate (ED) has seized 15 properties worth Rs 3.1 crore from the promoters of 3K Technologies Limited, a Hyderabad-based company. This action, taken under the Foreign Exchange Management Act (FEMA), shines a spotlight on alleged financial irregularities and the intricate web of international business dealings.

The ED's investigation began after the office of the development commissioner in Visakhapatnam Special Economic Zone raised suspicions about 3K Technologies' export activities. The probe revealed a complex scheme where the company had transferred Rs 5.2 crore to its US-based counterpart, 3K Technologies Inc., under the guise of overseas direct investment (ODI). This transfer, made in 2010, was a pivotal moment in the case, as the US company was dissolved just three months after receiving the final ODI tranche.

The three promoters, Karusala Venkat Subba Rao, Tejesh K Kodali, and Kadiyala Venkateswara Rao, have been implicated in this financial saga. Notably, Tejesh, who served as a director of the now-dissolved US company, was previously arrested by the FBI for immigration fraud in the US. The ED's summons went unanswered as the trio left India and resided in the US.

The case highlights the ED's vigilance in tracking financial crimes and its commitment to enforcing FEMA regulations. With Rs 5.2 crore still held overseas, the investigation is ongoing, leaving the public and investors alike awaiting further developments and potential legal repercussions.

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