Mining baron and former minister G. Janardhana Reddy was granted bail on Wednesday after spending the last three days in Central Jail, Parappana Agrahara. He was arrested by the Central Crime Branch (CCB) for allegedly taking ₹2 crore in cash and ₹18 crore in gold from an investment firm to bribe ED officials on its behalf.
The 1st Additional Metropolitan Magistrate court granted bail on a bond of ₹1 lakh and two sureties. The court directed Reddy not to hamper the investigation and influence witnesses, and asked him to cooperate with the investigation.
Reddy’s lawyer, Chandrashekhar, said bail was granted as the court observed that there was no prima facie evidence to establish the link between him and the investment firm Ambidant Marketing, whose owner, Syed Ahmed Fareed, has been booked for defrauding investors of over ₹600 crore. “The police have charged my client with cheating, forgery and conspiracy, but they failed to prove his involvement,” he said.
Speaking to mediapersons at the Congress office in Tumakuru on Wednesday, Home Minister G. Parameshwara said that the government will give a suitable reply to the court along with evidence.
According to CCB officials, who followed the money trail, ₹18 crore from Ambidant had been converted into gold bullion and diverted through two jewellery firms before being handed over to Reddy’s aide Mehfooz Ali Khan.
Khan, who was also arrested, filed an additional affidavit before the court stating that he had taken a loan of ₹18 crore from Ambidant with the assurance that he would return the money within 10 days.
The mining baron’s lawyer reiterated that the CCB is relying on Fareed’s statement and is yet to establish Reddy’s link to corroborate their claim.
‘Vendetta against me’
After stepping out of Central Jail, Parappana Agarahara on Wednesday evening, former minister G. Janardhana Reddy claimed that he was innocent and a victim of a government vendetta. He claimed that his arrest was an act of revenge by Chief Minister H.D. Kumaraswamy whom he had accused of taking bribes 12 years ago.
“I had met Ambidant owner Fareed at the Taj West End to advise him to return the money invested by Mehfooz Ali Khan and his family. Fareed promised to return the money soon. This does not mean I made a deal with Ambidant as alleged by the CCB,” he said.
Home Minister G. Parameshwara ruled out any political malicious intention behind Reddy’s arrest, and said the police were working within the legal framework.
Reddy asked for security claiming that he fears for his life. “I have requested the government twice to provide security. When the Andhra Pradesh government can provide me security, why can’t the Karnataka government?”
Describing BJP leader Ananth Kumar as his mentor, he said, “It’s very unfortunate that I could not pay my last respects.”
