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Telangana: ED searches Cong candidate Vivek Venkatswamy, who declared assets worth over Rs 600 crore | DETAILS

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The Enforcement Directorate on Tuesday (November 21) conducted searches at the premises of Congress candidate from Telangana’s Chennur seat Vivek Venkatswamy and a few others as part of investigation of a foreign exchange violation, official sources said. The agency is conducting the searches under the provisions of the Foreign Exchange Management Act (FEMA) in Chennur and Hyderabad, they said. The former MP had resigned from the BJP and joined the Congress in the presence of party leader Rahul Gandhi in Hyderabad earlier this month.

Vivek is the richest politician contesting the Assembly elections in Telangana with declared assets worth over Rs 600 crore.

Vivek and his wife own movable assets valued at Rs 377 crore, mostly shares in various companies, including his own Visaka Industries, which was founded in 1981. The family’s immovable assets stand at over Rs 225 crore.

According to his affidavit, Vivek and his wife possess liabilities or loans worth Rs 41.5 crore.

Vivek’s annual income grew to Rs 6.26 crore during the last fiscal from Rs 4.66 crore in FY19 while that of his wife rose to Rs 9.61 crore from Rs 6.09 crore during the same period.

Telangana will go to Assembly polls on November 30 and the results will be declared on December 3.


(With PTI inputs)

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