Former Karnataka minister and Obulapuram Mining Company (OMC) chairman Gali Janardhan Reddy has appealed to the special CBI court to put the money seized from the residences of his family members and business partners by the Investigation agency in fixed deposits in their respective names, so that they can get back the money with interest after completion of the trial.
Recently, the Income Tax officials had filed a petition in the special court seeking the transfer of the seized money to their department. Actually, the OMC was to file IT returns before Oct 31 but they couldn't do so as the money was seized much before that (on September 5).
The bench, however, ruled out transfering the money to IT. It also clarified that the seized money will be put in fixed deposits in the case number, but not in the name of the accused.
Gali's counsel also argued that the luxury vehicles and helicopter seized by the CBI should be returned, as they have no connection to OMC. He also mentioned that those vehicles belong to Gali's businesses like real estate and hotels. The next hearing on this matter was posted on April 26.
Recently, the Income Tax officials had filed a petition in the special court seeking the transfer of the seized money to their department. Actually, the OMC was to file IT returns before Oct 31 but they couldn't do so as the money was seized much before that (on September 5).
The bench, however, ruled out transfering the money to IT. It also clarified that the seized money will be put in fixed deposits in the case number, but not in the name of the accused.
Gali's counsel also argued that the luxury vehicles and helicopter seized by the CBI should be returned, as they have no connection to OMC. He also mentioned that those vehicles belong to Gali's businesses like real estate and hotels. The next hearing on this matter was posted on April 26.