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Nothing incriminating surfaced against the accused, says CBI.
The Central Bureau of Investigation has discovered no evidence to prosecute industrialist and Tirumala Tirupati Devasthanams (TTD) member J. Sekar alias Sekar Reddy and 5 others within the sensational money seizure case of 2016.
Almost 4 years after registering the case, the company filed a closure report within the trial courtroom, stating that “nothing incriminating surfaced” against the accused individuals.
The case pertains to the seizure of ₹33.89 crore within the then newly printed ₹2,000 denomination foreign money from the enterprise premises of Mr. Reddy and his companions in SRS Mining Company by Income Tax officers in December 2016. The CBI’s Anti-Corruption Branch registered three separate First Information Reports regarding the seizure against the trio. While the Madras High Court quashed two FIRs, the third has now been closed for need of evidence.
The CBI had stated within the FIR that the Reserve Bank of India despatched enormous portions of latest ₹2,000 denomination foreign money throughout the nation to be distributed in lieu of the demonetised ₹500 and ₹1,000 notes.
It alleged that Mr. Sekar Reddy and his enterprise companions, with the assistance of unknown public servants of various banks, transformed the unauthorised money held by them in outdated foreign money notes, thereby depriving the general public in imposing their proper.
The CBI additionally accused officers in numerous banks of colluding with the accused individuals for a consideration.
However, after inspecting a whole bunch of individuals, together with financial institution officers, and skimming volumes of paperwork, the CBI discovered no evidence on report to launch a prosecutable case against the accused individuals past affordable doubt to ascertain that they fraudulently transformed the unauthorised money held by them in outdated foreign money notes.
S. Jawahar, XIth further particular choose for CBI instances, allowed the CBI’s plea, looking for closure of the case because of lack of adequate evidence.
Not substantiated
“As per the oral and documentary evidence, the allegations in the FIR to the effect that the accused persons have caused wrongful loss to the Government of India to the tune of approximately ₹247.13 crore and obtaining corresponding wrongful gain to themselves is not substantiated with prosecutable evidence. Hence, the final report has been filed for recommending closure of the case,” the company stated in its remaining investigation report.
Mr. Reddy, who was on the Board of Trustees, TTD, was eliminated by the Andhra Pradesh authorities from the publish quickly after the CBI raids in December 2016. However, he was nominated once more as TTD Board member and likewise president of Local Advisory Committee, Tamil Nadu, in September 2019.
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