Chennai: The CBI on Wednesday arrested PWD contractor and former board member of Tirumala Tirupati Devasthanams Sekhar Reddy and his business associate V. Srinivasulu under sections of criminal conspiracy, cheating and the Prevention of Corruption Act. They said they run a company, JSR Infra.
On December 8, the I-T department raided Sekhar Reddy’s residences and other office premises. They were engaged in sand mining business since 2003 for PWD. They have 425 lorries and 180 poclains, which were hired for sand mining. They earn about Rs 25,000-30,000 from each lorry and Rs 19,500 from each poclain per day. They generate revenue of Rs 1.5 crore in cash across the state every day. The new currencies worth Rs 34 crore were daily hiring charges collection from lorries and poclains since demonetisation.
In the last few years, their company's turnover touched Rs 125 crore and they were paying tax regularly and nothing unusual for Rs 34 crore business income found in hand. All the revenue has been reported and tax paid, they said. Meanwhile, CBI filed a petition seeking custody of the accused. The judge adjourned the bail petition and police custody petition to December 23.
