SC Jayachandra sent to judicial custody

Rs 6 cr seized from suspended officer's house.

Bengaluru: A CBI court here on Wednesday sent suspended chief project officer of Karnataka State Highways Development Project S.C. Jayachandra to judicial custody till January 4.

He was arrested following raids conducted by the Income Tax (IT) department on his premises. IT officials seized unaccounted cash of around Rs 6 crore, out of which Rs 4.5 crore was in newly introduced Rs 2,000 denomination. In addition to the cash, Jayachandra was found possessing 5 kg of jewellery and a Lamborghini car.

Though the CBI court had granted him interim bail, the CBI managed to get his custody. The CBI had registered an FIR against Jayachandra after the IT raid.

In a similar case, the CBI court sent two Reserve Bank of India (RBI) officials to judicial custody for 14 days. They were arrested by the CBI on charges of violating the guidelines issued by the RBI regarding demonetisation and issuing of new currency notes to the tune of Rs 1.99 crore without documents.

The two who have been sent to the judicial custody are Sadananda Naika, a Senior Special Assistant in the RBI Cash Department, and A.K. Kavin, Special Assistant in the same department. The CBI had registered the FIR against them and other unknown RBI officials.

( Source : Deccan Chronicle. )
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