The CBI Special Court has awarded 14-day judicial custody for Aurobindo Realty Managing Director Sarath Chandra Reddy, who was lodged in the high security Tihar Jail in the Delhi Liquor Scam. As the judicial custody ended on Monday, the ED officials presented the accused before the court. Sarathchandra Reddy who figured as a crucial person in the case entrusted his custody to the CBI for questioning. Further, the special court posted the case to December 5.
The CBI special court has commented that the accused in these types of cases are not eligible to receive special treatment. The ED officials rushed the accused to Tihar Jail. The main complaint against Sarath Chandrareddy was that he had bribed Delhi Deputy CM to the tune of Rs.100 crore to get liquor licenses to his benami holders in eight excise circles of Delhi. According to experts, if the CBI probe establishes his culpability in the bribery case, the accused’s bank accounts are likely to be frozen by the officials. Meanwhile, discussion is raging among Aurobindo Realty circles on the likely impact of Aurobindo Realty in the event of officials freezing the bank accounts. According to information reaching here, some of the customers who have booked their flats in the Aurobindo Reality have conveyed their desire to the marketing personnel that they would cancel flats booked by them. Majority of the customers who have booked their flats with Regent project of the realty group in Kondapur have come to the decision, it is learnt. Comparatively, the progress of Aurobindo’s Regent project works are not on a par with Aurobindo Kohinoor project. That is why the customers prefer to cancel their bookings in Regent and book another flat in other projects. Till yesterday, banks evinced a lot of interest to advance housing loans to customers of this group who are now apparently backing out. If the track record of the customer is good, the banks did not hesitate to slash the rate of interest a bit. As the realty group’s name got entangled in the Delhi Liquor Scam, the bankers are not giving priority to the customers of this group. How did Aurobindo Realty MD procure Rs 100 crore? Did he transfer funds from Aurobindo Realty’s accounts to another account? or has he used any other route. The CBI probe is going to unearth the fact. If the CBI conclusively establishes that the Aurobindo Realty transferred funds from its accounts through hawala route, it may have adverse impact on the realty projects in future.
