Sekhar Reddy arrested immediately after being released on bail

Monday, March 20, 2017

Industrialist and former TTD Board member J.Sekhar Reddy was arrested by Enforcement Directorate on late on Monday. He was arrested on charges of money laundering and has been remanded in judicial custody till March 28.

It may be recalled that Sekhar Reddy and his parter Srinivasulu Reddy were arrested on December 20, 2016 under Money Laundering Act. On December 9, the IT department unearthed 96.89 crore cash in old high denomination notes and Rs.9.63 in new denomination of Rs.2,000 currency along with gold weighing 127 kg worth Rs.36.29 crore and on the immediate, the IT seized another Rs.24 crore of new Rs.2,000 notes.

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