India
Bengaluru's 1 ACMM court reserved the judgment on Janardhan Reddy's bail plea to Wednesday. He was charged with involvement in Ambidant ponzi scam.
Bengaluru: The judgment on bail plea of mining baron Janardhan Reddy has been reserved. The announcement will be made on Wednesday (November 14).
The 1st Additional Chief Metropolitan Magistrate (1 ACMM) court reprimanded the City Crime Branch (CCB) officials for digressing during investigation of the case.
Gali Janardhana Reddy was arrested on November 11 with regard to money laundering and bribery case.
Justice Jagadish of 1 ACMM court questioned the CCB as to why was they interested in Janardhan Reddy, who is accused number 6 in the Ambidant ponzi scam. The court's questions included: If there are many complaints against Reddy, if Reddy was mentioned directly in 1500 complaints filed against Ambidant, if charges were filed against Reddy just on the basis of statement of accused number 1 (Ambidant Marketing Pvt Ltd owner, Syed Ahmed). The court then said that CCB was digressing from the case.
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Janardhan Reddy was arrested by CCB on November 11. Though police were searching for him since November 9, he was absconding. He later released a video stating he is in Bengaluru. Reddy was remanded to judicial custody till November 24 and is currently in Parappana Agrahara Central jail.
The bail plea was supposed to be heard on Monday, but due to the death of Union minister Ananth Kumar, the hearing was postponed to Tuesday. Thus, today the judge reserved the judgment and Reddy will have to wait till tomorrow for results.
ALSO READ: Ambidant Ponzi scam: Janardhan Reddy arrested, to be produced before magistrate
Reddy was booked under sections 204 (destruction of evidence), 120B (criminal conspiracy), 420 (cheating) of the Indian Penal Code, and multiple sections of Prevention of Money Laundering Act.
Earlier, the CCB accused Reddy of demanding Rs 20 crore from Fareed in order to make a deal with Enforcement Directorate (ED) officials seeking their help to drop the case against Ambidant.
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