The Central Bureau of Investigation is said to be seriously probing into the links of Chennai-based sand mine contractor Sekhar Reddy in Telugu states, particularly with politicians in the ruling Telugu Desam Party in Andhra Pradesh.
The CBI has begun investigation into the seizure of abnormal cash by the Income Tax department sleuths from Sekhar Reddy’s house.
The I-T officials have seized from him Rs 131 crore in cash, of which Rs 34 crore in new Rs 2,000 notes and about 140 kgs gold bars.
The CBI authorities are suspecting that new currency notes had originated from Andhra Pradesh and were shifted to Chennai. Apparently, the new currency bundles were transported directly from the SBI’s administrative offices from the containers they received from RBI.
The former TTD board member Sekhar Reddy was said to be having good influence with AIADMK government in Chennai. However, the opposition parties in Andhra Pradesh blaming him as a `benami’ of Chief Minister Chandrababu Naidu.
Questioning the government on what criteria and with whose recommendation Reddy was nominated to the TTD board by Naidu, the opposition suspects chief minister using him to exchange his black money.
