Former BJP minister G Janardhana Reddy’s tony residence near Basaveshwara Circle has been attached by the government, in connection with the Ambidant Marketing Pvt Ltd cheating case, in which Reddy was arrested last year.
The Central Crime Branch (CCB) police had invoked the Karnataka Protection of Interest of Depositors in Financial Establishments Act, and sought information from the public about movable and immovable assets belonging to the accused. As per the Act, properties belonging to the accused who default on return of deposits can be attached, auctioned and the money returned to the depositors.
As Janardhana Reddy is also an accused in the case, the CCB had investigated the properties in his name. “We had information about his properties, and most of them were registered in his name, and had already been attached by the CBI and ED in his old cases. Only his residence ‘Parijatha’, next to Chalukya Hotel, was found fit to be attached. Procedures have been completed and Reddy’s house is attached. It is valued at `5 crore,” a senior CCB officer said.
Beside Reddy’s house, property worth Rs 40 crore belonging to Syed Farid Ahmed, the proprietor of Ambidant Marketing Pvt Ltd, has also been attached by the agencies, along with other accused persons. It may be recalled that CCB police had arrested Janardhana Reddy in November last year, on charges of receiving D20 crore from Farid Ahmed, promising to help him in a case registered by the Enforcement Directorate (ED).
The CCB, which has completed the probe, is ready with the chargesheet along with the list of properties attached. Sources said, they will submit it to court once the budget session ends on Friday. “As there are chances that political parties would take up the issue in the Legislative Assembly or Council if the chargesheet is filed now, as Reddy is an accused, we have been directed to submit it to the court only on Friday or later,” a CCB official said.
