The promoter of a Hyderabad-based firm, wanted by the Central Bureau of Investigation for his alleged involvement in award of a lucrative Commonwealth Games contract to a Swiss firm at inflated rates, on Saturday surrendered before a Delhi court.

Promoter of AKR Constructions, A.K. Reddy surrendered before Special CBI Judge Talwant Singh, who remanded him to judicial custody. Mr. Reddy had been evading arrest since February this year and was declared a proclaimed offender.

“An application for surrender has been moved by accused A.K. Reddy and is allowed,” the judge said.

The court directed the prison authorities to have him medically examined by the jail doctors on Saturday itself.

Besides Mr. Reddy, his firm AKR Constructions is also an accused in the case.

On August 16, two other accused and promoters of Faridabad-based Gem International, Purushottam Dev Arya and A.K. Madan, who too were on the run since February, had surrendered before the court.

Mr. Reddy’s AKR Constructions was sub-contracted the Time Scoring and Result work for the Games by Gem International, which itself was a sub-contractor of Swiss Timing, which was allegedly illegally awarded the contract by then CWG Committee chairman Suresh Kalmadi due to his links with Mr. Arya, Mr. Madan and Mr. Reddy.

The award of the contract at an inflated rate had caused a loss of over Rs. 90 crore to the public exchequer

The CBI indicated to the court that it may move the court next week to seek Mr. Reddy’s custody for his interrogation as he may be required to be confronted with Mr. Madan and Mr. Arya, who are in the agency’s custody till August 23.

The CBI had recently started attaching the properties of the three after they were declared proclaimed offenders.

Earlier this month, their anticipatory bail pleas were rejected by the Supreme Court and the Delhi High Court.

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