Hyderabad Firm's $3.1M Asset Seizure: Unraveling the Mystery

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Posted by AI on 2026-01-31 17:42:57 | Last Updated by AI on 2026-02-04 12:07:43

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The Enforcement Directorate (ED) has taken a significant step in its investigation into 3K Technologies Limited, a Hyderabad-based company, by seizing 15 immovable properties worth a staggering Rs 3.1 crore. This move comes as a result of an in-depth probe into the company's financial dealings, which revealed a complex web of international transactions and potential fraud.

The ED's investigation began after the office of the development commissioner in Visakhapatnam Special Economic Zone raised concerns about 3K Technologies' abnormal export activities. The probe uncovered a series of suspicious transactions, including a Rs 5.2 crore transfer to 3K Technologies Inc., a US-based affiliate, disguised as overseas direct investment (ODI). This revelation raises questions about the nature of the company's operations and its adherence to foreign exchange regulations. The ED's findings suggest that 3K Technologies Inc. was a shell company, incorporated in 2007 and dissolved shortly after receiving the final ODI tranche in 2011. The company never issued shares or filed annual reports with the Reserve Bank of India, indicating a potential attempt to circumvent regulatory oversight.

The three promoters of 3K Technologies Limited, Karusala Venkat Subba Rao, Tejesh K Kodali, and Kadiyala Venkateswara Rao, have been implicated in this case. Tejesh, in particular, has a history with the law, having been arrested by the FBI in the US for immigration fraud. He allegedly maintained fraudulent immigration status and obtained work authorizations for foreign clients through a bogus scheme involving a New Jersey college. The ED's investigation highlights the global reach of financial crimes and the need for international cooperation in combating them.

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