The Enforcement Directorate has arrested sand mining baron J Sekhar Reddy and his two alleged associates in connection with a money laundering case registered post demonetisation.
Officials said the three were arrested yesterday under provisions of the Prevention of Money Laundering Act (PMLA) after they were called for questioning by the Enforcement Directorate (ED) here.
Reddy and his two associates, K Sreenivasulu and P Kumar, were later produced in a court which sent them to jail till March 28, they added.
Reddy was earlier arrested by the CBI too in the same case of alleged black money generation post demonetisation and was out on conditional bail.
ED had arrested two other people in this case — Mahavir Hirani and Ashok Jain in December last year.
The agency had filed a criminal complaint against Reddy and others based on a CBI FIR in the case which was registered after the I-T Department first searched his and his associates’ premises in November 2016.
The I-T Department has made one of the biggest detection of alleged unaccounted income of over Rs 142 crore in this case with the seizure of Rs 34 crore in new notes, post demonetisation.
The Reddy case and the other involving Delhi-based lawyer Rohit Tandon are being probed by at least four agencies — the Enforcement Directorate, the Income-Tax Department, the CBI and Delhi Police, and are considered the two most high-profile black money cases being investigated in the aftermath of the notes ban.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.