Wary Minister Parthasaradhy clarifies on FERA case

Wary Minister Parthasaradhy clarifies on FERA case - Sakshi Post

Minister for Secondary Grade Education Parthasaradhy, who was in the line in the list of tainted ministers in the State cabinet, is in a complete piquant situation.

Demand for his resignation along with three other ministers whose names have been figured in the CBI chargesheet is gaining momentum. Giving clarification on his involvement in the money laundering case, Parthasaradhy spoke to media persons in Vijayawada on Thursday. 

He said his plastic compost manufacturing unit made an attempt to import the machinery required for setting up the plant. The company had come to an agreement with the Swiss company to pay 15 percent of the total payable amount in advance and the remaining 85 per cent in instalments during a period of five years. His company secured permission from the Centre on the agreement on October 10, 1994. Fifteen per cent advance payment of Rs 60 lakhs was made to Swiss company only after an approval from RBI.

The rest of the payments should be made through Andhra Bank after six months. Andhra Bank had refused to pay the remaining 85 per cent to the Swiss company. Because it failed to repay the balance installments, the Swiss company confiscated the initial deposit. The Enforcement Directorate (ED) did not find fault with the transactions, the ministers clarified. 

He further informed that he had resigned as director from the company in 2008. So he could not mentioned about the case in the 2009 election affidavit, he said.

Replying to a question, Parthasaradhy felt that the ministers may not have committed any unlawful acts.    

Meanwhile, a petition has been filed seeking criminal case against the Minister for not mentioning in the election affidavit about the FERA violation case. Vijayawada first Metropolitan magistrate court on Wednesday adjourned the hearing on the petition to June 14. 



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