Former mines director sent to judicial remand till October 10
By : DC Correspondent
Update: 2024-09-27 20:27 GMT
Vijayawada: Former Mines and Geology director V.G. Venkat Reddy has been remanded in judicial custody until October 10 after being produced before the Special Judge for SPE and ACB cases in Vijayawada on Friday.
The former director, who had been absconding for some time after multiple cases were filed against him for a series of irregularities during his tenure, was arrested by ACB officials in Hyderabad on Thursday night. He was brought to Vijayawada and presented before the special court for SPE and ACB cases.
Reddy is accused of committing numerous violations in tenders and agreements, breaching the AP Minor Mineral Concession Rules, and flouting regulations related to sand mining and the orders of the National Green Tribunal (NGT) and the Supreme Court, causing significant financial losses to the state while providing undue benefits to private parties.
Preliminary inquiries revealed that the former director, in collaboration with the APMDC Managing Director, entered into a criminal conspiracy with M/s JPVL, M/s GCKC Projects and Works Private Limited, M/s Prathima Infrastructures Private Limited, and others. By abusing his official position in anticipation of personal gain, he facilitated the misappropriation of funds by M/s JPVL and others. Reddy also unlawfully released bank guarantees amounting to Rs 120 crore, violating established norms. His actions are alleged to have led to the misappropriation of assets worth approximately Rs 2,566 crore.