Tamil Nadu gold seize: CBI court sends Reddy, Srinivasalu to judicial custody till Jan 3
In its FIR, CBI said the case against them was that the two had exchanged Rs 34 crore as new currency out of the total seized amount.
By PTI |
PTI
CHENNAI: A CBI court today remanded J Sekar Reddy and his associate K Srinivasulu, from whose premises Income Tax department seized 127 kg gold and over Rs 170 crore in cash, in judicial custody till January 3, 2017.
They were remanded in custody by special judge for CBI cases Vijayalakshmi.
In its FIR, CBI said the case against them was that the two had exchanged Rs 34 crore as new currency out of the total seized amount.
Also Read: TN in news for all wrong reasons
Both had changed the currency within 24 days from the date the demonetisation was announced (November 8), the FIR stated.
Both were charged under IPC sections 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating and dishonestly inducing delivery of property) and 120B (punishment of criminal conspiracy) and under 13(1) and (2) of Prevention of Corruption Act.
The judge also posted to December 23 the bail pleas by Reddy and Srinivasalu and a petition by CBI seeking the two into its custody.
They were remanded in custody by special judge for CBI cases Vijayalakshmi.
In its FIR, CBI said the case against them was that the two had exchanged Rs 34 crore as new currency out of the total seized amount.
Also Read: TN in news for all wrong reasons
Both had changed the currency within 24 days from the date the demonetisation was announced (November 8), the FIR stated.
Both were charged under IPC sections 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating and dishonestly inducing delivery of property) and 120B (punishment of criminal conspiracy) and under 13(1) and (2) of Prevention of Corruption Act.
The judge also posted to December 23 the bail pleas by Reddy and Srinivasalu and a petition by CBI seeking the two into its custody.
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