Tuesday 6 September 2011

CBI arrests mining King Janardhan Reddy, Srinivas Reddy

Mining baron and former Karnataka Minister G Janardhan Reddy and Managing Director of Obalapuram Mining Company B V Srinivas Reddy on Monday arrested by CBI. CBI sought remand for further investigation amid allegations of mining irregularities being taken to place questioning.4.5 crore cash, gold seized;A 15-member CBI team from Hyderabad conducted searches at Janardhana Reddy's house and claimed to have seized Rs three crore in cash and over 30 kgs of gold, official sources alleged.

A sum of Rs 1.5 crore was also seized from the residence of Reddy's brother-in-law Srinivasa Reddy, who is also the Managing Director of the company owned by the Reddy family, they claimed.


"Janardhana Reddy and Srinivasa Reddy have been arrested under Prevention of Corruption Act ", CBI DIG P V Lakshminarayana, who is heading the team, told reporters in Bellary.

The arrests came in connection with the cases filed by CBI against the Reddy brothers in Andhra Pradesh, the sources said.

Even as the CBI team escorted the Reddys to
Hyderabad, the agency continued searches at Janardhana Reddy's residence in Bellary and Bangalore.

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