A special court on Wednesday granted CBI till January 6 custody of sand mining baron J Shekar Reddy and two others in a fresh case relating to seizure of Rs eight crore worth currency notes from his house here.
Special Judge Venkataswamy observed that when ordinary citizens were “facing trouble by standing in queues to get Rs 2000 per head at ATMs how this much of huge quantities were converted by the accused Shekar Reddy, Premkumar and Srinivasulu needed a thorough interrogation”.
He also observed that it is the duty of all officials involved in the central government’s demonetisation scheme to make it a success, adding, “it is the duty of the investigating agency to find out how this much of huge quantity of currency reached the hands of the accused.”
Stating that “this is not possible only by the lower level bank staff”, the judge directed CBI, which is investigating the case, to find out the truth in the matter.
While referring to the other seizures from the accused from different places, the judge said, “It is the duty of the investigating agency to find out who are all the officers involved in the conversion and to bring them before the court.”
The judge granted CBI their custody till 5.30 pm on January 6.
CBI had filed the fresh case against Reddy, Premkumar and Srinivasulu yesterday and had moved the special court seeking their custody for interrogation. The amount was seized from Reddy’s house at Venkat Narayanan Road, Chennai.
Reddy, Premkumar and Srinivasulu and two others were arrested by CBI on December 21 following the “seizure” of 127 kg gold and over Rs 170 crore in cash, including new currency notes, from their premises by the Income-Tax department in coordinated searchers.
The judge extended till January 17 judicial custody of two other accused—Rathinam and Muthupettai Ramachandran who were arrested in this case and whose custody came to an end on Wednesday.