Latest News: Note ban: ED arrests Sekhar Reddy, 2 others in PMLA Case :- The ED has arrested Sekhar Reddy and his two associates in connection with a money laundering case.
The report says the three got arrested yesterday under provisions of the Prevention of Money Laundering Act after they were called for questioning by the Enforcement Directorate.
Reddy and his two associates, Sreenivasulu and Kumar were later produced in a court which sent them to jail till 28th March.
Reddy was earlier arrested by the CBI too in the same case of black money generation and was out on conditional bail.
The ED too had arrested two other people in this case – Mahavir Hirani and Ashok Jain in December last year.
The agency filed a criminal complaint against Reddy and others based on a CBI FIR which was registered after the IT department searched his associate’s premises in November 2016.
The I-T department has made one of the huge detections of unaccounted income of over Rs 140 crore in this case with Rs 35 crore in new notes.
The Reddy case and the other involving Delhi-based lawyer Rohit are probed by at least four agencies- the ED, the Income Tax department, Delhi Police and the CBI are the two most high-profile black money cases investigated in notes ban.