Gali Case: CBI to Probe Reddys' Foreign Businesses
posted on Sep 20, 2011 @ 5:49PM
After seeking the court yesterday for extension of custody of Gali Janardhan Reddy and BV Srinivasa Reddy, the CBI is planning to probe in to their foreign businesses. The CBI is of the opinion that Gali Janardhan Reddy amassed huge wealth of nearly 7500 crores through illegal mining. The court sent the Reddys to Chanchalguda jail in judicial remand till 3 October.
The report submitted by the CBI to the CBI Special Court says that Gali Janardhan Reddy had exported iron ore through Obulapuram Mining Company to some benami companies at cheaper prices in some foreign countries. In Turn, these companies have acquired variable stakes in the Brahmani Steel Company of Janardhan Reddy. The CBI explained in detail to the court about the monetary routing of Gali Janardhan Reddy and sought custody of nine more days to unravel the complete picture. The CBI also told the court that Janardhan Reddy has not divulged any information during interrogation in the past six days.