Janardhan Reddy
Janardhan Reddy

Janardhan Reddy to remain in judicial custody till Nov 24

ANI | Updated: Nov 11, 2018 18:01 IST

Bengaluru (Karnataka) [India], Nov 11 (ANI): Mining baron Janardhan Reddy, who was arrested by the Bengaluru Central Crime Branch">Bengaluru Central Crime Branch on Sunday in connection with a bribery case, has been sent to judicial custody till November 24.
RP Chandrashekhar, counsel of Janardhan Reddy told the media, "Today Janardhan Reddy was produced before the Judge & the Court was pleased to accept our bail application on record. Judge has granted time till tomorrow to file objection on the main bail application & the application will be taken tomorrow."
Reddy, a former Bharatiya Janata Party (BJP) minister, was arrested on charges of bribery earlier today in a case allegedly involving Ambident Group. He is suspected to have received 57 kg gold worth Rs 18 crore to help an accused in a case being investigated by the Enforcement Directorate (ED).
The arrest comes a day after Reddy appeared before the investigating agency after his anticipatory bail was rejected by the court. Police said he was interrogated till late night on Saturday.
Earlier, Bengaluru Commissioner of Police T Suneel Kumar had said, "A company Ambident, set up in 2016-17 assured investors a return of 30-40 per cent per month in form of profits. Thousands of people were lured to invest. Initially, they returned the first batch profits as promised following which more people poured in. Subsequently, when it failed to return the principal amount, cases were registered. In January 2017, the ED raided the company. The crime branch took over the case and a probe was conducted which revealed that transactions to the tune of Rs. 18 crore were carried out."
Kumar further said that it was discovered that the company had allegedly transferred the money to Ramesh Kothari, who runs a business in the name of Ambika Jewellers. On quizzing Kothari, he informed that he had used the money to buy the gold which was handed over to Reddy's personal assistant Ali. (ANI)

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