Srinivasa Reddy quizzed by CBI over monetary transactions

Obulapuram Mining Company managing director Srinivasa Reddy was today brought to a bank in Bellary by a CBI team for enquiries into his monetary transactions and verify lockers owned by him.

Obulapuram Mining Company managing director Srinivasa Reddy was on Saturday brought to a bank in Bellary by a CBI team for enquiries into his monetary transactions and verify lockers owned by him.

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Reddy, who is currently under CBI custody for questioning relating to his alleged role in illegal mining, was brought to the city by the investigating agency team from Hyderabad led by its Superintendent of Police Venkatesh, sources said.

According to the sources, CBI has gathered vital inputs about crores of rupees of transaction allegedly done by Reddy in the name of OMC and also suspected to have about dozen accounts in benami names.

Reddy also has several lockers in the private bank, which the CBI authorities would be opening today, the sources said.

Former Karnataka minister Gali Janardhana Reddy and his brother-in-law Srinivasa Reddy, arrested by CBI on September five in connection with its illegal mining probe, are in CBI custody till September 19.

The role of the private bank's then official who allegedly helped helped Srinivasa Reddy to open several accounts in benami names was also being probed, the sources said.