Madras High Court Grants Conditional Bail To Sekhar Reddy

Tamil Nadu sand mining baron Sekhar Reddy, who was arrested in December, was sanctioned a conditional bail by Madras High Court. Authorities recovered Rs. 142 crores in cash and 127kg of gold.

Chennai: Tamil Nadu sand mining baron Sekhar Reddy, who was arrested in December, was sanctioned a conditional bail by Madras High Court. Two of his aides Prem Kumar and Srinivasulu were also released on bail.

In addition to furnishing sureties, the bail required them to be in Delhi and sign at the Enforcement Directorate office at 10.30am every day till further orders are passed.

Reddy, who was well connected politically, was arrested during demonetization drive. The authorities recovered Rs. 142 crores in cash and 127kg of gold.

Upon seizing documents pertaining to his connections with politicians and bureaucrats, the officials raided then Chief Secretary Rama Mohan Rao.

The Income Tax department has informed the State Government that he paid state ministers and bureaucrats around 400 crores of money, and asked the government to initiate a probe. This comes as a huge embarrassment to Palanaswami Government, which is struggling to keep its house in order. The government is yet to act on it.

Though the Madras High Court has granted bail to Mr Reddy in March, the Enforcement Directorate arrested him just a few days later for alleged money laundering. The ED also attached 34 crore rupees.

Mr Reddy argued that no bank official was arrested even 87 days after his arrest and claimed that the cash recovered from him was clean money.

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