Reddy, 2 others remanded to judicial custody in fresh case

A CBI court today remanded sand mining baron J Shekar Reddy and two others in judicial custody till January 17 in a fresh case relating to seizure of Rs 8 crore worth currency notes from his house here.
Judge Venkataswamy of the 11th CBI court dealing with bank fraud cases remanded them in judicial custody in the case filed by the investigating agency against Reddy and his associates.
The amount was seized from Reddy's house at Venkat Narayanan Road, Chennai.
The judge sent all the three-- Reddy, Srinivasulu and auditor Premkumar-- to judicial custody.
Earlier, it was reported that Reddy and four others were remanded in judicial custody in the fresh case.

Meanwhile, the court also extended till January 17 the judicial custody of Reddy and Srinivasulu, in the case where they were arrested along with three others in connection with alleged seizure of over Rs 170 crore, including new currency notes, from their premises.

They were produced before Special Judge Venkataswamy as their judicial custody in the case came to an end today.
The judicial custody of other three accused including auditor Premkumar, is to end tomorrow.
Earlier, CBI special judge G Vijayalakshmi had transferred to the 11th CBI court the cases related to arrest of Reddy and others in connection with the alleged seizure of over Rs 170 crore, including new currency notes, from their premises.

CBI had filed a plea seeking transfer of all the cases to a court dealing with bank fraud cases.
The special judge had on December 30 dismissed the bail petitions of the accused and also dismissed a petition filed by CBI seeking their custody for interrogation.
Reddy and his associates were arrested by CBI on December 21 following the "seizure" of 127 kg gold and over Rs 170 crore in cash, including new currency notes, from their premises by the Income-Tax department in coordinated searches.
The five have been accused of converting the unaccounted cash held by them in old currency notes to new notes with the help of unknown public servants of different banks within 24 days since demonetisation was announced on November 8.

Cases have been registered against them for various offences under IPC including criminal breach of trust, cheating and criminal conspiracy and under Sections 13(1) and (2) of the Prevention of Corruption Act.