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Gali Properties to be Seized: CBI
Publish Date:Oct 21, 2011
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The Central Bureau of Investigation (CBI), which is probing in to the illegal mining activities of Obulapuram Mines Company owned by former Karnataka Tourism Minister Gali Janardhan Reddy, has started the process of attaching his and also OMC MD and his brother-in-law BV Srinivasa Reddy's properties.
CBI Joint Director V.V. Lakshmi Narayana told that the process of attaching the properties of the accused in Bellary, Bangalore and other places was on. Sources in the CBI said the attachment of properties was being taken up to prevent it changing hands. The agency would invoke provisions of the Criminal Law Amendment Act to attach the properties. It had deployed nearly 60 officers to collect evidence in Mumbai, Kolkata, Chennai, Bangalore, Mangalore, Bellary and Anantapur.
The CBI had already informed the court that Mr. Janardhana Reddy and Mr. Srinivas Reddy were involved in exporting iron ore to benami companies at a rate much less than the market value and the money raised by selling the consignments abroad was invested by these companies in the business ventures of the Reddys. A huge amount of money was used to buy properties.
http://www.teluguone.com/news/content/gali-janardhan-reddy-properties-20-7775.html
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