HYDERABAD: Two associates or alleged benamis of suspended HMDA director (Planning), accused in multi-crore disproportionate assets case, have been arrested by the ACB sleuths here on Friday.
On credible information, ACB special teams arrested A Yadava Reddy, Managing Director of Sri Sai Hari Hara Estates Private Limited and G Nishanth Reddy of Ranga Reddy district for allegedly possessing illegal amounts procured by Purushotham Reddy.
The ACB officials said that Yadava Reddy has conspired, colluded and facilitated Purushotham Reddy to invest his ill-gotten money into his company through his benamis. Nishanth Reddy along with one Srinivasa Reddy acted as benamis of Purushotham Reddy and entered into a development agreement on a project worth about `30 crore and facilitated Purushotham Reddy to park his ill-gotten money in the development business-- land development and construction of villas -- at Manchirevula village in Ranga Reddy district. Both were arrested and produced before the Principal Special Judge for ACB. cases here on Friday for sending them to judicial remand. Meanwhile, Purushotham Reddy and his brother-in-law Srinivas Reddy are still at large.