Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Democracy that banks on the electorate
access_time 28 March 2024 5:34 AM GMT
Lessons to learn from Moscow terror attack
access_time 27 March 2024 6:10 AM GMT
Gaza
access_time 26 March 2024 4:34 AM GMT
The poison is not in words, but inside
access_time 25 March 2024 5:42 AM GMT
A witchhunt, plain and simple
access_time 23 March 2024 9:35 AM GMT
DEEP READ
Schools breeding hatred
access_time 14 Sep 2023 10:37 AM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Ramadan: Its essence and lessons
access_time 13 March 2024 9:24 AM GMT
When ‘Jai Sree Ram’ becomes a death call
access_time 15 Feb 2024 9:54 AM GMT
exit_to_app
Homechevron_rightIndiachevron_rightBengaluru court...

Bengaluru court declines anticipatory bail to mining baron Janardhana Reddy

text_fields
bookmark_border
Bengaluru court declines anticipatory bail to mining baron Janardhana Reddy
cancel

Bengaluru, Nov 9 (IANS) A city court on Friday declined to grant anticipatory bail to Karnatakaa's mining baron Gali Janardhana Reddy, who fears arrest by the state's Central Crime Branch (CCB) in a Ponzi scheme-related case.

"Additional Sessions Court Judge Vidyadara Shirahatti said he cannot grant anticipatory bail to my client (Reddy) without hearing the prosecution side and adjourned the case to Monday (November 13)," Reddy's senior counsel C.H. Hanumantharaya told reporters here.

Though the CCB summoned Reddy for interrogation in the Ponzi scam, in which he is accused of shielding its perpetrators from being investigated by the Enforcement Directorate (ED), Hanumantharaya alleged that the CCB had wrongly framed his client in the case, as his (Reddy's) name was not in the FIR filed against Ambidant Marketing Ltd suspected to be behind the scam.

When the judge asked the counsel the urgency in seeking anticipatory bail as Reddy was legally bound to appear before the CCB in response to its summons, the counsel said the police was searching for Reddy and raided his residence in the city and Ballari on Wednesday and Thursday in connection with the scam.

Reddy, a former BJP Minister in the state, is on bail in the multi-crore mining scam that rocked the southern state for over a decade from 2002-12.

"The judge has issued notice to the prosecutor for filing objections, if any, against Reddy's petition for anticipatory bail," said his counsel.

Reddy's counsel also sought a court directive to the CCB for changing the investigation officers, as the Ponzi case does not come under their jurisdiction.

The ED on Thursday charged Ambidant owners Syed Fareed Ahmed and his son Syed Afaq Ahmed with running a potential Ponzi scheme offering huge interest to investors in the name of 'Islamic banking'.

"Investigation revealed that the city-based Ambidant Marketing Ltd has been operating a potential Ponzi scheme and duping hundreds of investors in the name of Islamic banking and 'Halal' investment," the ED said in a statement here.

Since its inception on December 20, 2016, the company is alleged to have received a whopping Rs 954 crore as investments under Haj/Umrah and Ultimate plans.

Interrogation of the Ahmeds (father and son) revealed that the duo had allegedly gifted Reddy 57 kg gold valued at Rs 18 crore through his personal assistant Ali Khan for bailing them out of the cases from the police and the ED.

Show Full Article
Next Story