30 kg gold, chopper seized from Reddy’s home

Last Updated: Tuesday, September 6, 2011 - 00:52

Zeenews Bureau

Bellary (Karnataka): The CBI has recovered huge amounts of hard cash and gold from the residences of former Karnataka minister G Janardhan Reddy and his brother-in-law B Srinivasa Reddy during raids conducted early on Monday in connection with the case registered against his Obbalapuram Mining Company (OMC).

As per reports, nearly Rs 3 crore in cash were seized from his residence in Bellary. The investigating agency has also seized over 1500 documents and iron ore samples from his home.

Janardhan Reddy, alongwith his brothers Karunakara and Somashekara, are known as the mining czars of Bellary and have made millions through mining and trading of iron ore.

Hailing from Andhra Pradesh`s Chittoor district, the Reddy brothers made Karnataka`s iron ore rich district of Bellary their home and within 10 years transformed from small time businessmen to billionaires.

Simultaneous raids were also conducted at his Bangalore mansion from where, as per reports, his laptop, dairy, mobile phone and four registers have been seized. His personal helicopter ‘Rukmini’ has also been seized.

Besides Janardhan Reddy, raids were also conducted at the residence of his brother-in-law and Managing Director of Obalapuram Mining Company B Srinivasa Reddy in Bellary and Ananthapur in neighbouring Andhra Pradesh.

As per reports, around 30 kilograms of gold and nearly Rs 1.5 crore in cash were seized from his residence.

The duo were booked under the Prevention of Corruption Act for cheating and criminal trespass under different IPC sections and irregularities under the mining act.

The arrests were made in connection with a case registered by CBI against OMC in 2009 for illegal mining in the forest area of Andhra Pradesh bordering Karnataka.

The duo were taken to Hyderabad and produced before a special CBI court, which remanded them to 14 days Judicial Custody.
Janardhan Reddy was among those indicted by the Lokayukta report on illegal mining submitted to the Government on July 27.

The probe agency action comes a day after Reddy`s associate and former Karnataka minister B Sreeramulu resigned from his Assembly seat, protesting against the BJP`s denial to give him ministerial berth and also keeping Bellary Reddy brothers out of the ministry.

Raids are also being conducted at Sreeramulu`s residence, reports said.

Interestingly, the arrests were also made at a time when the CBI is probing the alleged illegal assets of MP YS Jaganmohan Reddy, son of late Andhra Pradesh chief minister YS Rajasekhara Reddy. Janardhana Reddy was close to the former chief minister and his son.

With Agency inputs)



First Published: Monday, September 5, 2011 - 13:06

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