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Bengaluru: Two contractors in remand over cash seizure

FIR has been registered even against S.C. Jayachandra, Chief Project Officer of the State Highway Improvement Project, and two bankers.

Bengaluru: The CBI, which has arrested two contractors, Nazeer Ahmed and Chandrakanth Ramalingam, over the seizure of cash in Rs 2,000 notes during recent raids, produced them before the court and remanded them to judicial custody till Dec. 23.

The agency had registered an FIR against seven people, including S.C. Jayachandra, Chief Project Officer of the State Highway Improvement Project, and two bankers on last Saturday.

Enforcement Directorate officials produced Jayachandra before the court and took him into their custody till December 15.

The ACB officials, who have also raided the houses and offices of Jayachandra and Chikkarayappa, who is the MD of Cauvery Neeravari Nigama, have recovered documents pertaining to properties that he owns. Department sources said that Chikkarayappa had purchased properties in the name of his relatives and family members, which are being verified.

High Court asks CBI not to arrest contractor
The High Court on Friday asked the CBI not to arrest Mr Ibrahim Shareef, a civil works contractor, from whose flat the largest haul of Rs 4.80 crore cash in Rs 2,000 notes was made during a recent IT raid.

After contractor’s advocate submitted that his client will assist in the investigation, the court told the CBI to not to arrest Ibrahim if he helped them.
The contractor had been absconding ever since the CBI registered the FIR.

( Source : Deccan Chronicle. )
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