JOIN USThe Karnataka High Court on Wednesday vacated a stay granted on proceedings initiated by the Anti-Corruption Bureau (ACB) against S C Jayachandra, the suspended chief project officer of the State Highway Development Project.
Jayachandra is accused in the currency exchange racket. Justice John Michael Cunha passed an order stating the ACB does have the police station powers and can go ahead with the investigation under the Prevention of Corruption Act, 1988.
Jayachandra has been booked by the Enforcement Directorate (ED) and the ACB under the provisions of Prevention of Money Laundering Act, 2002 and the Prevention of Corruption Act, 1988.
During the I-T raid, the authorities recovered cash of Rs 27 lakh and Rs five lakh in new currencies in possession of Jayachandra, following which a case was booked by the I-T department, ED, CBI and the state ACB.
The high court had recently rejected Jayachandra’s bail application.