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Seized cash belongs to Srinivas Reddy: AP police

Last Updated: Saturday, September 17, 2011 - 00:34

Anantapur (AP): Police on Friday claimed to have prima
facie evidence that the Rs 4.95 crore cash seized from a lorry
yesterday in Guntakal town in the district bordering
mineral-rich Bellary district of Karnataka allegedly
belonged to B V Srinivas Reddy, Managing Director of
Obulapuram Mining Company (OMC) who is in CBI custody.
A top police official today said that two persons
arrested after the cash seizure "admitted" that the cash was
given to them by an unknown person in Bellary claiming the
cash belonged to Srinivas Reddy and it was meant for
transporation to a safer place in Hyderabad to avoid seizure
by CBI.

Both Srinivas Reddy, brother-in-law of former Karnataka
minister Gali Janardhan Reddy, who owns OMC, were arrested on
September 5 from Bellary. CBI is at present interrogating

The central agency, is thoroughly probing the "illegal"
mining and irregularities in allotment of mining leases to OMC
and carrying out raids at several locations.

In the wake of the seizure of the cash that was being
transported from Bellary, CBI is exploring on intensifying its
probe and has decided to take over the cash seizure case after
it was prima facie established that the cash belonged to OMC.
CBI is expected to soon file a memo in a court in
Anantapur town in this regard and a CBI team today collected
details from senior police officials of the cash seizure case,
a top police official told PTI on condition of anonymity.


First Published: Friday, September 16, 2011 - 17:20
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