A special court for Central Bureau of Investigation cases on Wednesday granted the CBI two-day custody of industrialist Sekhar Reddy and his associates Srinivasulu and Prem Kumar who were arrested on charges of possessing ₹8 crore cash in ₹2,000 denomination.
Special Judge Venkataswamy observed that when ordinary citizens were “facing trouble by standing in queues to get Rs 2000 per head at ATMs how this much of huge quantities were converted by the accused Shekar Reddy, Premkumar and Srinivasulu needed a thorough interrogation”.
He also observed that it is the duty of all officials involved in the central government’s demonetisation scheme to make it a success, adding, “it is the duty of the investigating agency to find out how this much of huge quantity of currency reached the hands of the accused.”
Stating that “this is not possible only by the lower level bank staff”, the judge directed CBI, which is investigating the case, to find out the truth in the matter.
Earlier, senior counsel for the accused I. Subramanian said there could be no two FIRs based on the same source of information.
The CBI had suppressed the fact that its earlier petition seeking custody of the accused was dismissed by another court. Though this is a different FIR, the facts and circumstances of the case were the same. The new cases arose out of the same set of facts.