Reddy & associates have 200 bank lockers: CBI

PTI

Bellary, 21 September 2011: The CBI, probing illegal mining and irregularities in allotment of mining leases to Obulapuram Mining Company, has found that the arrested mining baron G Janardhana Reddy and his associates had allegedly booked 200 lockers in a private bank here.

 

Out of the 350 lockers available at the private bank, which was searched recently, about 200 have been taken by Reddy and his aides, CBI sources alleged.

 

According to the sources, Reddy allegedly owned ten lockers and had stacked gold, platinum and diamond ornaments, besides important documents in them. Recently CBI officials opened some lockers owned by OMC Managing Director Srinivasa Reddy, brother-in-law of Janardhana, and seized more than 14 kg of gold ornaments.

 

CBI sleuths are investigating whether Reddy and his associates have hired lockers in other banks in the city and elsewhere. Sources also said that the CBI and IT Department have secured information over transfer of money by Janardahna Reddy’s foreign firms in six countries-- Cambodia, Dubai, Singapore, Vietnam, China and Indonesia.

 

OMC sold high quality iron ore mined in Karnataka reportedly using permits from Andhra Pradesh to its benami firm in foreign countries. Janardhana and Srinivasa Reddy were arrested on Sept 5.