A CBI court on Wednesday remanded Premkumar, auditor of J Sekhar Reddy, in judicial custody till January 4 in connection with seizure of 127 kg gold and over Rs 170 crore cash by the Income Tax department. Premkumar and two others were produced before a CBI court, where special judge Vijayalakshmi remanded them in judicial custody till January 4.
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They have been charged under IPC sections 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating and dishonestly inducing delivery of property) and 120B (punishment of criminal conspiracy) and under 13(1) and (2) of Prevention of Corruption Act. The CBI court on Wednesday had remanded Sekar Reddy and his associate K Srinivasulu in judicial custody till January 3.
The agency in its FIR had said that the case against the duo was that they had exchanged Rs 34 crore as new currency out of the total seized amount. Both had changed the currency within 24 days from the date demonetisation was announced on November 8, it had said. Both Reddy and Srinvasulu had been charged under the same sections of IPC.