Chennai: The Principal Sessions Court, Chennai, has granted four days of police custody to sand mining baron Shekhar Reddy and his two associates Srinivasulu and Premkumar, who were arrested by Enforcement Directorate second time in connection with illegal exchange of new currencies.
A special court for the CBI cases last week enlarged Sekhar Reddy and his associates on conditional bail. The income tax officials seized Rs 131 crore, of which Rs 34 crore were of new Rs 2,000 currency notes, from his premises in December last year.
Despite Central Government rationing distribution of the new currencies, Sekhar Reddy, a member of Tirumala Tirupati Devasthanam board, possessed huge amount of new currencies.
The authorities also seized 177 kg gold from the premises of Sekhar Reddy and associates, Srinivasalu Reddy and Prem Kumar. Soon after his release from the prison on bail, the Enforcement Directorate (ED) registered a fresh case against him and others under Prevention of Money Laundering Act (PMLA) and arrested them late night on Monday. The Enforcement Directorate approached Principal Sessions Court seeking their custody.
After hearing the arguments the Principal Sessions Judge has granted custody of four days to Enforcement Directorate to interrogate Sekhar Reddy and his associates. The Judge directed the authorities to produce them before the court on March 27, 2017 at 3pm.
