Press Esc to close
Thursday 21 September 2017
News updated at 1:27 AM IST

ED attaches Rs 34-cr assets of mining baron

Chennai, DH News Service, May 6 2017, 1:47 IST
 Sand mining baron J Sekhar Reddy. Image courtesy Twitter

Sand mining baron J Sekhar Reddy. Image courtesy Twitter

The Enforcement Directorate on Friday said it has attached assets worth Rs 34 crore in connection with its money laundering probe against sand mining baron J Sekhar Reddy and his associates.

ED Joint Director K S V V Prasad said his office has issued a provisional attachment order of Rs 33,74,92,000 against the industrialist and his associates in connection with exchange of old notes for new ones under the provisions of the Prevention of Money Laundering Act.

Prasad said the ED is conducting an investigation based on cases filed by the CBI, which were registered after the income tax department searched Reddy’s premises and those of his associates in November last year. The I-T sleuths seized nearly Rs 34 crore in new notes during the raid.

“He (Reddy) has stated that the cash seized by the I-T department belongs to his SRS Mining Company, and admitted it was unaccounted money,” the official said in a statement here. Reddy has not divulged the actual source of the new notes other than stating that it is from the sand mining business, Prasad added.

Go to Top

Photo Gallery
A man is rescued from a collapsed building in the Condesa neighborhood of Mexico City after an...

A man is rescued from a collapsed building in the Condesa neighborhood of Mexico City after an...

A car sits crushed from a building felled by a 7.1 earthquake, in Jojutla, Morelos state, Mexico...

A car sits crushed from a building felled by a 7.1 earthquake, in Jojutla, Morelos state, Mexico...

U.N. : President Emmanuel Macron of France addresses the 72nd session of the United Nations...

U.N. : President Emmanuel Macron of France addresses the 72nd session of the United Nations...

People walk by a fallen tree off the shore of Sainte-Anne on the French Caribbean island of...

People walk by a fallen tree off the shore of Sainte-Anne on the French Caribbean island of...

The arms, bullets and other items recovered by the BSF from the two Pakistani infiltrators who...

The arms, bullets and other items recovered by the BSF from the two Pakistani infiltrators who...

An Anganwadi worker faints during a protest in favour of their demands, at Residency Road in...

An Anganwadi worker faints during a protest in favour of their demands, at Residency Road in...

A delivery boy pushes his bicycle through a water-logged street after heavy rains at...

A delivery boy pushes his bicycle through a water-logged street after heavy rains at...

The wall of Kohalgaon dam which collapsed during the trial run and inundated nearby areas of a...

The wall of Kohalgaon dam which collapsed during the trial run and inundated nearby areas of a...

Joe Acaba, left, the first astronaut of Puerto Rican heritage, talks during an interview with...

Joe Acaba, left, the first astronaut of Puerto Rican heritage, talks during an interview with...

U.S. President Donald Trump addresses the 72nd United Nations General Assembly at U.N. headquarters

U.S. President Donald Trump addresses the 72nd United Nations General Assembly at U.N. headquarters

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.