Sunday , February 26 2017

CBI slaps 2 more cases against Sekhar Reddy

The 3 were already arrested by CBI for the seizure of Rs 24 crore worth of new notes and are lodged in Puzhal prison

Sekhar Reddy

Chennai: CBI has registered 2 more cases against former Tirumala Tirupati Devasthanam board member Sekhar Reddy, his links K.Srinvasulu and K.Prem Kumar in connection with 2 instances of cash seizures by the IT department in which new Rs 2,000 notes worth Rs 8 crore and Rs 1.63 crore were seized.

The 3 were already arrested by CBI for the seizure of Rs 24 crore worth of new notes and are lodged in Puzhal prison. In the latest 2 cases also the CBI had listed unidentified bank officials and public servants as suspects and cases were recorded under criminal conspiracy, cheating as well as prevention of corruption act.

IT sleuths had seized Rs 131 crore cash and 177 kg gold during raids at the premises of Tamil Nadu State PWD sand contractor Sekhar Reddy and his associates in the 2nd week of December. The seizure had later led the IT sleuths to the doorsteps of the then chief secretary P.Rama Mohana Rao and his son Vivek Papisetty.

“Income Tax department has seized Rs 8 crore of new Rs 2,000 notes from the residence of Sekhar Reddy in Sudhama Building on Vijayaraghava Road, T Nagar on Dec 9. Sekhar Reddy is a government contractor who operates majority of government run sand quarries in Vellore and neighbouring districts. The other seizure of Rs 1.63 crore of new Rs 2,000 notes was made at his residence at Yogambal Street in T Nagar.

The 3 suspects, with help of unknown public servants converted unlawful cash held by them in old currency notes in to new Rs 2,000 notes, thus depriving the public in enforcing their rights. The bank officers had helped the suspects to change the old notes in large scale for their own benefits,” a CBI officers stated.

Sekhar’s case goes to new CBI court

In a rapid twist, the Principal Special court for CBI cases, Chennai on Tuesday transferred the new currency exchange case registered against sand mining baron J. Sekhar Reddy and his business associates from the court to the XI Additional Special Court for CBI Cases. As the Principal Special Judge for CBI cases, G. Vijaylakshmi on Friday dismissed the police custody petition of CBI, the judicial custody of all the 5 accused is expected to end on Tuesday.

When the matter came up for hearing before the principal special judge, G. Vijaylakshmi, the CBI sought to transfer the case to the XI Additional Special Court for CBI Cases, which conducts trial relating to bank fraud cases.

In the meantime, the Enforcement Directorate also registered a similar case against J. Sekhar Reddy and others.

The Enforcement Directorate alleged that the officers seized new currency notes in the house of Sekhar Reddy at Venkat Narayanan Road, Chennai. The Enforcement Directorate also filed a petition before the CBI Judge seeking Prisoners Transit (PT) warrant to inquire Parasmal Lodha, who supposedly assisted Sekhar Reddy in the conversion of the new currency notes. Lodha, a native of Kolkata, was arrested by Enforcement Directorate in Mumbai last week and now detained in Delhi prison.

The XI Additional Special Judge K. Venkatasamy directed the personnel to produce Parasmal Lodha to assist the hearing in the present case against Sekhar Reddy. The Judge issued the prisoner’s transit warrant enabling Lodha to escort to Chennai and produce before the court.

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