13
Thursday
December 2018
12:21 PM IST
News Headlines
Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        Shaktikanta Das named new RBI Governor        Khashoggi, other journalists named Time 'Person of the Year'        May tours Europe in desperate bid to save Brexit deal        Three policemen killed in Shopian by terrorists; weapons snatched        13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat        Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results        Cong leads in R'than, Chhattisgarh and MP; TRS races ahead in Telangana, MNF in Mizoram        Shakhtar prepare for home match 700 kilometres from home        AC Milan let Inter off the hook with Torino stalemate        Sensex cracks over 550 pts; Nifty drops below 10,600        Trump's potential next chief of staff pick leaving White House        UK PM faces fight for her political life in Brexit deal        BJP mocks Oppn meet, asks them to reveal PM candidate's name        RBI Governor Urjit Patel makes loud noise with silent exit        RLSP chief Upendra Kushwaha resigns from Union council of ministers        1st Test: India in cruise control as Australia reduced to 104/4 chasing 323        Over 16000 runners take part in Pune Half Marathon        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
National News
Mining Baron Janardhana Reddy Remanded in Custody Till November 24 for 'Shielding' Ponzi Scam Accused Father-Son
 
(Bengaluru, Nov 11, 2018):Mining baron and former Karnataka minister G Janardhana Reddy was arrested on Sunday after marathon questioning by police in connection with a multi-crore Ponzi scam case, a top police official said.

Reddy, whose whereabouts were not known and remained incommunicado since Wednesday till he appeared at the Central Crime Branch (CCB) police office Saturday, was arrested after the intense questioning ended Sunday morning, additional commissioner of police (Crime) Alok Kumar told reporters.

He was produced before the 6th Additional Chief Metropolitan Magistrate court which remanded him to judicial custody till November 24.

The CCB had been on the lookout for Reddy, who was declared absconding by police last week in connection with a transaction worth crores of rupees allegedly linked to the ponzi scheme fraud involving hundreds of crores of Rupees.

The intense grilling which began Friday afternoon lasted till around 2 am and continued this morning and Reddy had to sleep in the CCB office, police said.

Before being produced in the court, Reddy was subjected to a medical examination.

Reddy, who was allegedly on the run, had turned up before police along with his advocates Saturday evening after making a dramatic appearance in a video, saying he was not absconding and would present himself before police.

He has claimed the allegations against him were part of a "political conspiracy".

While it was earlier stated the CCB also detained Reddy's close aide, Ali Khan, in the case, the ACP later said since Khan had obtained bail from the sessions court, police faced a technical problem in effecting his arrest as of now.

The CCB was on the lookout for Khan, who had allegedly struck a Rs 20-crore deal with Syed Ahmed Fareed of Ambidant Marketing Pvt Ltd, a company accused of involvement in the ponzi scheme, to bail him (Fareed) out from the Enforcement Directorate investigation.

During investigation, Fareed who is on bail, had claimed he had paid the money so as to get help from Reddy in connection with ED probe.

Reddy on Saturday denied the allegations. In his video message shortly before he came to the CCB, the Ballari-based Reddy had said he was not absconding and was very much in the city, while asserting that there was no need for him to flee.

Reddy's close confidant Sriramulu's sister J Shantha, a BJP candidate, lost in the by-polls from Ballari Lok Sabha constituency, considered a strong hold of the Reddy brothers. The Congress won the seat breaking BJP's grip over Ballari since 2004.
However, police have said there was no political connection to the probe and they were working on the case for the last 20 days, but waited till November 3 for the bypolls to be over for further action, so that it was not politicised.

Reddy, a Minister during the previous BJP rule, had been arrested by the CBI in 2011 over alleged multi-crore illegal mining scam and granted bail three years later. He had reigned supreme in what was then infamously called the "Republic" of Ballari.

According to the police, Fareed has claimed that he paid the money because he was promised help by Reddy in connection with the ED probe.

Fareed had set up Ambidant around 2017 promising returns of about 40 to 50 per cent for investment.

Lured by the promise, thousands of people invested their money in the company, which initially paid good returns, attracting more and more investors.

However, as it failed to pay the promised returns later, cases were registered against it and during January- February ED had also raided it.

Meanwhile, Fareed had allegedly met Reddy through Khan requesting for help in bailing him out of ED the case, and Rs 20 crore was demanded in the form of gold through a jeweller known to them in Ballari, according to police.

During the investigation, the CCB found a particular transaction of Rs 18 crore being paid by Ambidant to Ramesh Kothari, who runs Ambika Jewellers in Bengaluru. Kothari on questioning said he had given 57 kg of gold to a jeweller named Ramesh, who runs Raj Mahal Fancy Jewellers in Ballari.

Ramesh, who has since been arrested, had claimed that the gold was handed over to Khan. Police had also said they were having photographs of some meetings to prove Reddy's direct link to this case.


Three policemen killed in Shopian by terrorists; weapons snatched
13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat
Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results
BJP mocks Oppn meet, asks them to reveal PM candidate's name
RBI Governor Urjit Patel makes loud noise with silent exit
Can special consideration be shown to man with skin disorder: HC asks Centre
BJP files caveat in SC over 'rath yatra' in WB
More than 225 terrorists killed in J&K so far this year: Army
Glad key people shedding fear, breaking silence on govt decisions: Chidambaram
Krishnamurthy Subramanian appointed as Chief Economic Advisor for 3 years
TN Governor meets Modi, discusses issues of state
Christian Michel sent to 5-day CBI custody by court in VVIP chopper case
Mamata asks people to uphold the secular fabric of the country
Bulandshahr violence: UP CM meets slain inspector's family
Kashmir Valley records sub-zero temp on Tuesday night
Telangana set for change: Rahul Gandhi
PM latching on to Michel for 'smear campaign' against opposition leaders: Cong
Under PM Modi-Yogi Adityanath, Police, Common Man In Terror: Rahul Gandhi
Punitive Action Against Anil Ambani’s Firm, Navy Encashes Bank Guarantee in Vessel Deal
Note ban had no impact, failed to keep check on black money: Ex-CEC Rawat
ENTERTAINMENT NEWS
Vaikom Vijayalekshmi ties knot with Anoop
 Vaikom: Playback singer Vaikom Vijayalekshmi has tied knot with Anoop N. at Vaikom Mahadeva temple.  
Mohanlal's Odiyan: Official trailer launched
Mammootty narrates Odiyan's intro?
Sradha Kapoor as Saina Nehwal: First look poster is out.
INTERNATIONAL NEWS
Khashoggi, other journalists named Time 'Person of the Year'
 New York, Dec 11 (AFP) Saudi journalist Jamal Khashoggi, who was murdered in October at his country'
May tours Europe in desperate bid to save Brexit deal
Trump's potential next chief of staff pick leaving White House
UK PM faces fight for her political life in Brexit deal
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.