HYDERABAD: The Hyderabad High Court has directed Special CBI Court to release the helicopter of Bell-407 belonging to mining baron Gali Janardhan Reddy, which was earlied seized by investigation agency, only on furnishing bank guarantee for `6.62 crore by the latter’s Obulapuram Mining Company (OMC).Justice M Satyanarayana Murthy was passing this order recently in a petition by Obulapuram Mining Company questioning the order of the Special CBI Court which had imposed certain conditions for release of the said helicopter.
CBI, which is probing the illegal mining case involving OMC, had seized the helicopter and Reddy’s cars as part of investigation in 2012.In March this year, the trial court while dealing with petition filed by OMC managing director BV Srinivasa Reddy, had directed him for executing a personal bond for `6.62 crore with one third party surety offering the security of immovable property for the said amount in favour of the court. But the petitioner furnished the documents in the name of the company.
The trial court did not accept the surety furnished by the company. Aggrieved with the same, the OMC approached HC for relief.The petitioner’s counsel submitted that the company was willing to furnish bank guarantee in place of the personal bond for `6.62 crore.While disposing of the case, the judge directed the lower court to release helicopter on furnishing bank guarantee.