Hyderabad: The Enforcement Directorate on Wednesday attached shares worth Rs 884.13 crore held by jailed mining baron Gali Janardhan Reddy’s Obulapuram Mining Company in Brahmani Industries Limited.
OMC, Janardhan Reddy and others have been chargesheeted by the CBI for the mining scam in the state and are also facing prosecution by ED under the Prevention of Money Laundering Act.
ED joint-director Subhash Agarwal said, “OMC had illegally mined iron ore valued at Rs 884.13 crore from 2007 to 2010. It was seen that the investments in BIL by OMC included the amount identified as proceeds of the crime. Around 88,41,30,000 shares, of a face value of Rs 10 each, held by OMC have thus been provisionally attached under the PMLA.” The ED directed BIL and its directors not to dispose of, transfer, sell, move, lease out or deal with the plant, machinery, land, equipment and appliances. It has also ordered not to alter the equity structure of BIL.
Janardhan Reddy and his company OMC are facing allegations under IPC, Indian Forest Act, Mines & Minerals (Development and Regulation) Act, and Prevention of Corruption Act. CBI had filed a chargesheet on December 2011 under the Prevention of Corruption Act, conspiracy, cheating, criminal breach of trust and other sections of IPC.
Meanwhile, CBI is working towards filing additional chargesheet in the Obulapuram Mining Scam in January regarding the role of other accused including Mehfuz Ali Khan, the alleged aide of Janardhan Reddy. Khan earlier worked in Brahmani Industries Limited.