The Anti-Corruption Bureau (ACB) has filed a petition seeking the custody of former Mines Department Director, Venkata Reddy. The Vijayawada ACB Court heard the petition today, with ACB officials requesting a seven-day custody period to facilitate their investigation. After reviewing arguments from both parties, the judge denied the request for seven days, granting ACB custody for three days starting tomorrow. ACB officials will question Venkata Reddy during this period.
Venkata Reddy was recently arrested by ACB officials for his alleged involvement in causing a financial loss of ₹2,566 crores to the government during his tenure as Managing Director of the AP Mineral Development Corporation (APMDC). ACB cited his involvement in irregularities related to tenders, contracts, and sand mining, leading to his suspension by the state government some time ago. Venkata Reddy had been evading authorities after suspension notices were issued and had a case registered against him by the ACB on October 11. He was eventually apprehended in Hyderabad.
The ACB revealed that Venkata Reddy, in collusion with contractors from companies such as GKC, Prathima Group, and Jayaprakash Power Ventures Limited, was involved in a conspiracy to siphon off thousands of crores. His actions during the previous YSRCP government’s tenure allegedly resulted in significant losses to the state exchequer.