A Hyderabad-based private firm promoter, wanted for his alleged involvement in an illegal award of a Commonwealth Games contract to a Swiss firm at highly inflated costs, was on Thursday remanded by a Delhi court to CBI custody for five days.
Hyderabad-based AKR Constructions' promoter AK Reddy, involved in the award of the contract to Swiss Omega for installing the Timing, Scoring and Result system for the Games, was remanded to police custody till August 30 by Special CBI Judge Dharmesh Sharma.
On the run since February this year, Reddy had surrendered before a special CBI court last week. CBI had sought his custody saying it needed him for his custodial interrogation to unearth the money trail.
Reddy's counsel objected to the five-day custody terming it as "mere formality" and said his client has already been interrogated by CBI for three days and all the documents had been seized much earlier.
While remanding Reddy to CBI custody, the court allowed his counsel to meet him for fifteen minutes daily as long as Reddy is in police custody.
Reddy was declared a proclaimed offender and had surrendered in the court on August 20. His firm AKR Constructions, which is also an accused in the case, was sub-contracted the TSR work for the 2010 mega event by Gem International which itself was a sub-contractor of Swiss Timing.