4.9 Crore Cash Seizure: CBI Takes OMC MD to Bellary

4.9 crore cash was seized by the police from a truck on Thursday in Ananthapur district. Two persons who were arrested with the cash, reportedly told the police that the cash belongs to Obulapuram Mining Company managing director, BV Srinivas Reddy who is under CBI custody along with his brother-in-law Gali Janardhan Reddy.

A CBI team has taken BV Srinivas Reddy to Bellary in Karnataka to probe into the matter. According to the sources, CBI has gathered vital inputs about crores of rupees of transaction allegedly done by Reddy in the name of OMC and also suspected to have about dozen accounts in benami names. Reddy also has several lockers in the private bank, which the CBI authorities would be opening on Saturday. The role of the private bank's then official who allegedly helped helped Srinivasa Reddy to open several accounts in benami names is also being probed, the sources said.

Former Karnataka minister G Janardhana Reddy and BV Srinivasa Reddy were arrested by CBI in Bellary on September 5 for illegal mining and were brought to Hyderabad for further investigation.