Sunday, 25 Mar 2012
The Central Bureau of Investigation conducted a survey on Thursday in former minister and mining baron Janardhana Reddy’s Associated Mining Company based on the alleged transportation of 320,000 tonnes of iron ore in five days (March 18-23, 2010).
A team headed by CBI Superintendent of Police Subramanya Rao conducted the survey along with a group of engineers from Singareni Coal Mines, Andhra Pradesh. Apparently, the CBI official arrived at Hospet on Wednesday night and had surveyed the mining areas under AMC on Thursday.
Recently, the CBI collected information from the Department of Mines and Geology about illegal mining. Based on this information, the CBI conducted the survey.
The CBI team along with Reddy’s close aide and personnel assistant Mehfuz Ali Khan, visited the stock yards in Hospet and Sandur. On Thursday, the CBI with the help Department of Mines and Geology and forest department officials surveyed the area till evening.
Source - Indian Express
Showing posts with label Reddys. Show all posts
Showing posts with label Reddys. Show all posts
Sunday, March 25, 2012
Sunday, March 4, 2012
Mr Reddy sent to custody till March 12
Sunday, 04 Mar 2012
IANS reported that billionaire mine owner Mr Gali Janardhana Reddy was Friday sent to the custody of Central Bureau of Investigation till March 12 in connection with an illegal mining case.
Bangalore's additional civil and sessions court judge Mr BM Angadi accepted the CBI plea for custody of Reddy for interrogation regarding illegal iron ore mining in Karnataka.
Mr Reddy was produced in Angadi's court by the CBI, which brought him to Bangalore early Friday from Chanchalaguda jail in Hyderabad, about 600 km from here.
Mr Reddy has been lodged in the Hyderabad jail since September 5 in
Source - IANS India
IANS reported that billionaire mine owner Mr Gali Janardhana Reddy was Friday sent to the custody of Central Bureau of Investigation till March 12 in connection with an illegal mining case.
Bangalore's additional civil and sessions court judge Mr BM Angadi accepted the CBI plea for custody of Reddy for interrogation regarding illegal iron ore mining in Karnataka.
Mr Reddy was produced in Angadi's court by the CBI, which brought him to Bangalore early Friday from Chanchalaguda jail in Hyderabad, about 600 km from here.
Mr Reddy has been lodged in the Hyderabad jail since September 5 in
Source - IANS India
Tuesday, November 8, 2011
TDP chief denies favoring Bellary Barons
Tuesday, 08 Nov 2011
Telugu Desam Party leader and former Andhra chief minister Dr N Chandrababu Naidu on Saturday denied charges that he had favored Mr G Janardhan Reddy the former Karnataka minister, arrested by the CBI for illegal iron ore mining.
Mr Naidu told a gathering in Kurnool that ''I have no fear as I did no mistake. I informed the same to former chief minister YSR.”
The TDP chief accused the late YSR and his son of starting their newspaper and cement business allegedly with ill gotten funds.
According to Mr Naidu, YSR had filed 15 cases against him in the supreme court and the high court. He also set up 26 commissions of inquiry, but they failed to prove any charges against him.
Mr YS Jaganmohan Reddy the chief of the YSR Congress and son of Mr YS Rajasekhara Reddy, the former Andhra chief minister, who was killed in an air crash, had accused Mr Naidu of favoring the mining mafia in the state and had urged the CBI to probe his role in the scam.
Jaganmohan Reddy, who started his own political outfit after the Congress denied him the chief minister ship of the state after his father's death, was on Friday summoned by the CBI for questioning about his links to the mining mafia.
(sourced Domain-b.com & Equity Bulls)
Telugu Desam Party leader and former Andhra chief minister Dr N Chandrababu Naidu on Saturday denied charges that he had favored Mr G Janardhan Reddy the former Karnataka minister, arrested by the CBI for illegal iron ore mining.
Mr Naidu told a gathering in Kurnool that ''I have no fear as I did no mistake. I informed the same to former chief minister YSR.”
The TDP chief accused the late YSR and his son of starting their newspaper and cement business allegedly with ill gotten funds.
According to Mr Naidu, YSR had filed 15 cases against him in the supreme court and the high court. He also set up 26 commissions of inquiry, but they failed to prove any charges against him.
Mr YS Jaganmohan Reddy the chief of the YSR Congress and son of Mr YS Rajasekhara Reddy, the former Andhra chief minister, who was killed in an air crash, had accused Mr Naidu of favoring the mining mafia in the state and had urged the CBI to probe his role in the scam.
Jaganmohan Reddy, who started his own political outfit after the Congress denied him the chief minister ship of the state after his father's death, was on Friday summoned by the CBI for questioning about his links to the mining mafia.
(sourced Domain-b.com & Equity Bulls)
Monday, October 31, 2011
Andhra Pradesh’s home minister in CBI net over illegal mining
Oct31, 2011 | Agency: DNA
Hyderabad :In an effort to step up the investigation into the illegal iron-ore mining by jailed mining baron Gali Janardhana Reddy, the CBI has brought Andhra Pradesh’s home minister Sabitha Reddy under its scanner.
CBI officials questioned Reddy for two hours late on Friday. She was the mines minister from 2004 to 2009 during former chief minister YS Rajasekhara Reddy’s regime and is believed to be instrumental in offering several clearances to various mines companies, including that of Janardhana Reddy.
Obulapuram Mining Company (OMC), owned by Janardhana Reddy, was granted mining leases during YSR’s regime and several files pertaining to the leases were endorsed by Sabitha Reddy. Interestingly, the former mines minister’s questioning follows a grilling of the then mines secretary Sri Lakshmi.
In fact, Sri Lakshmi and the then director of mines, Rajagopal, have been under the CBI scanner and the duo was questioned by the CBI several times.Sri Lakshmi was called for yet another round of questioning by the officials on Friday, followed by Sabitha Reddy’s questioning. However, sources rule out any direct relation between the questioning of the duo.
One key aspect the CBI is looking at is the way the permissions for mining were accorded to Janardhana Reddy’s company. Sources said the CBI has found several interesting aspects in the way the files were cleared. Various approvals for OMC were given by the government and the files were cleared by Sabitha Reddy’s office the same day.
“About six mining leases were cleared on a single day and that is unusual since mining lease is a complicated issue,” the source said. The CBI has already questioned people at various levels starting from the sarpanch of the village where the mines are located to the minister now.
The CBI team has also recently visited Krishnapatnam port, one of the major private sector ports in the country. The port, located in Nellore, was used by Janardhana Reddy to export iron ore. CBI officials are believed to have collected several documents to support their case against him.
Reddy and his brother-in-law, BV Srinivas Reddy, are accused of having indulged in illegal mining and exporting iron ore mined in various places in Karnataka and Andhra Pradesh by using OMC’s invoices.
The duo is currently lodged in the Chanchalguda central prison in Hyderabad. The CBI is said to be ready with the content required for the chargesheet and is expected to file the document within the stipulated timeframe.
Hyderabad :In an effort to step up the investigation into the illegal iron-ore mining by jailed mining baron Gali Janardhana Reddy, the CBI has brought Andhra Pradesh’s home minister Sabitha Reddy under its scanner.
CBI officials questioned Reddy for two hours late on Friday. She was the mines minister from 2004 to 2009 during former chief minister YS Rajasekhara Reddy’s regime and is believed to be instrumental in offering several clearances to various mines companies, including that of Janardhana Reddy.
Obulapuram Mining Company (OMC), owned by Janardhana Reddy, was granted mining leases during YSR’s regime and several files pertaining to the leases were endorsed by Sabitha Reddy. Interestingly, the former mines minister’s questioning follows a grilling of the then mines secretary Sri Lakshmi.
In fact, Sri Lakshmi and the then director of mines, Rajagopal, have been under the CBI scanner and the duo was questioned by the CBI several times.Sri Lakshmi was called for yet another round of questioning by the officials on Friday, followed by Sabitha Reddy’s questioning. However, sources rule out any direct relation between the questioning of the duo.
One key aspect the CBI is looking at is the way the permissions for mining were accorded to Janardhana Reddy’s company. Sources said the CBI has found several interesting aspects in the way the files were cleared. Various approvals for OMC were given by the government and the files were cleared by Sabitha Reddy’s office the same day.
“About six mining leases were cleared on a single day and that is unusual since mining lease is a complicated issue,” the source said. The CBI has already questioned people at various levels starting from the sarpanch of the village where the mines are located to the minister now.
The CBI team has also recently visited Krishnapatnam port, one of the major private sector ports in the country. The port, located in Nellore, was used by Janardhana Reddy to export iron ore. CBI officials are believed to have collected several documents to support their case against him.
Reddy and his brother-in-law, BV Srinivas Reddy, are accused of having indulged in illegal mining and exporting iron ore mined in various places in Karnataka and Andhra Pradesh by using OMC’s invoices.
The duo is currently lodged in the Chanchalguda central prison in Hyderabad. The CBI is said to be ready with the content required for the chargesheet and is expected to file the document within the stipulated timeframe.
Saturday, October 29, 2011
Iron ore exports under-invoiced
Sat,29 Oct, 2011
NELLORE: The CBI team that investigated iron ore exports by the Obulapuram Mining Company owned by Gali Janardhan Reddy through the Krishnapatnam port has reportedly found several irregularities.
According to sources, it found that 2,000 trucks ferried ore from Obulapuram in Anantapur district to the port in Nellore district daily, each carrying 40-55 tonnes of ore as against the permitted load of 15 tonnes.
However, CBI officials were tight-lipped on how many companies were involved in iron ore export from Krishnapatnam between 2007 and 2009 and what OMC’s share was. They simply said investigation was complete and a charge sheet would be filed in a day or two. It is learnt that the CBI found that 42 lakh tonnes of ore was exported from the port by 80 companies since 2007 but only 14 lakh tonnes was recorded.
It seized some crucial documents during its visit to the customs office after questioning its assistant commissioner K Ranga Rao on Thursday.
Not satisfied with the answers given by the port authorities, the CBI has issued notices seeking a written reply.
CBI joint director V V Lakshminarayana met SP BV Ramana Kumar Thursday and discussed road accidents involving iron ore trucks on the national highway from Kadirinaidupalle in Marripadu to the port that lies in the district.
As per police records, 200 people died and 500 were maimed in 350 accidents involving iron ore lorries during 2007-09.
sourced IBN Live.in
NELLORE: The CBI team that investigated iron ore exports by the Obulapuram Mining Company owned by Gali Janardhan Reddy through the Krishnapatnam port has reportedly found several irregularities.
According to sources, it found that 2,000 trucks ferried ore from Obulapuram in Anantapur district to the port in Nellore district daily, each carrying 40-55 tonnes of ore as against the permitted load of 15 tonnes.
However, CBI officials were tight-lipped on how many companies were involved in iron ore export from Krishnapatnam between 2007 and 2009 and what OMC’s share was. They simply said investigation was complete and a charge sheet would be filed in a day or two. It is learnt that the CBI found that 42 lakh tonnes of ore was exported from the port by 80 companies since 2007 but only 14 lakh tonnes was recorded.
It seized some crucial documents during its visit to the customs office after questioning its assistant commissioner K Ranga Rao on Thursday.
Not satisfied with the answers given by the port authorities, the CBI has issued notices seeking a written reply.
CBI joint director V V Lakshminarayana met SP BV Ramana Kumar Thursday and discussed road accidents involving iron ore trucks on the national highway from Kadirinaidupalle in Marripadu to the port that lies in the district.
As per police records, 200 people died and 500 were maimed in 350 accidents involving iron ore lorries during 2007-09.
sourced IBN Live.in
Thursday, October 27, 2011
CBI focuses on iron ore exports by J Reddy
Hyderabad, October 27, 2011
The Central Bureau of Investigation (CBI), probing illegal mining by former Karnataka minister Gali Janardhana Reddy, is now focusing its attention on the export of iron ore by the mining baron.
A team of CBI officials led by Joint Director VV Lakshminarayana Thursday reached Nellore
district and began the probe at Krishnapatnam port, from where the maximum quantity of iron ore was exported by Obulapuram Mining Company (OMC) owned by Janardhana Reddy.
"Iron ore was exported from various ports and the maximum percentage was from Krishnapatnam port. We want to know how much was exported from here and what procedures the port authorities followed," Lakshminarayana told reporters.
The Central Bureau of Investigation (CBI), probing illegal mining by former Karnataka minister Gali Janardhana Reddy, is now focusing its attention on the export of iron ore by the mining baron.
A team of CBI officials led by Joint Director VV Lakshminarayana Thursday reached Nellore
district and began the probe at Krishnapatnam port, from where the maximum quantity of iron ore was exported by Obulapuram Mining Company (OMC) owned by Janardhana Reddy.
"Iron ore was exported from various ports and the maximum percentage was from Krishnapatnam port. We want to know how much was exported from here and what procedures the port authorities followed," Lakshminarayana told reporters.
The federal agency will also gather information from customs officials with regard to exports from the private port.
"The port authorities had already sent some documents to us. We have examined them and have come here as part of the investigations," he said.
According to the Karnataka Lokayukta report, the maximum export of illegal iron ore took place from Krishnapatnam port. Out of the total iron ore exports of 3,31,04,866 tonnes from seven ports since 2006-07, Krishnapatnam accounted for 1,11,70,994 tonnes.
Lakshminarayana, who is also leading the investigations into alleged illegal assets of MP Y.S. Jaganmohan Reddy, said their main concentration was on illegal mining as the arrests had been made in the case and "we have to soon file the charge sheet".
Janardhana Reddy and his brother-in-law and OMC managing director B.V. Srinivasa Reddy are currently lodged in Chanchalguda Central Jail here.
The CBI arrested the duo from Bellary in Karnataka Sep 5 in connection with illegal mining in Andhra Pradesh's Anantapur district bordering Karnataka. The probe was ordered by the Andhra Pradesh government in 2009.
The Supreme Court last month ordered the CBI probe into illegal mining in Karnataka.
(sourced Hindustan Times)
Saturday, October 15, 2011
Bellary, CBI officials continue raids targeting mining areas
Saturday, Oct 15, 2011
CBI officials continued their raids targeting mining areas of Bellary on Friday.
They reached Bellary at midnight on Thursday and began their operations from 9am after reaching Sandur taluk.
Earlier, raids were first conducted on Deccan Mining Syndicate (DMS) which is said to be involved in illegal mining that was carried out by Associated Mining Company (AMC) belonging to G Aruna Lakshmi, wife of former minister G Janardhana Reddy.
The 15-member team was headed by DIG and CBI, Hyderabad. The raids were conducted on the leased mining areas of DMS. This is the second such raid by CBI officials on DMS property.
The officials came armed with documents to prove DMS had occupied about 42 hectares illegally without getting any lease grants. AMC occupied 10 hectares without proper grants.
Tahsildar KB Shivakumar, range forest officer Gopal, mines and geology department official Shankar, ACF officer Venkatesh and others provided relevant information on illegal occupation to CBI officials.
The officials then visited NMDC and collected details of irregularities alleged committed by AMC.
The raids followed a Supreme Court order to investigate the irregularities that were committed by G Janardhan Reddy and others associated with AMC and OMC. CBI officials also conducted raids on a couple of close aides of Reddy in Bellary, Hospet, Toranagallu and DMS.
According to a CBI official source, first information report was prepared on 134 persons after the Supreme Court passed an order to register cases against Associated Mining Company (AMC) and DMS.
In the meantime, former Lokayukta justice N Santosh Hegde hailed the raids by CBI officials from Andhra Pradesh. They were able to arrest G Janardhana Reddy for his involvement in illegal mining.
Although CBI officials based in Karnataka had conducted raids a couple of times, nothing came out of that. Instead of raids, action should be initiated, Hegde said.
(sourced DNA)
CBI officials continued their raids targeting mining areas of Bellary on Friday.
They reached Bellary at midnight on Thursday and began their operations from 9am after reaching Sandur taluk.
Earlier, raids were first conducted on Deccan Mining Syndicate (DMS) which is said to be involved in illegal mining that was carried out by Associated Mining Company (AMC) belonging to G Aruna Lakshmi, wife of former minister G Janardhana Reddy.
The 15-member team was headed by DIG and CBI, Hyderabad. The raids were conducted on the leased mining areas of DMS. This is the second such raid by CBI officials on DMS property.
The officials came armed with documents to prove DMS had occupied about 42 hectares illegally without getting any lease grants. AMC occupied 10 hectares without proper grants.
Tahsildar KB Shivakumar, range forest officer Gopal, mines and geology department official Shankar, ACF officer Venkatesh and others provided relevant information on illegal occupation to CBI officials.
The officials then visited NMDC and collected details of irregularities alleged committed by AMC.
The raids followed a Supreme Court order to investigate the irregularities that were committed by G Janardhan Reddy and others associated with AMC and OMC. CBI officials also conducted raids on a couple of close aides of Reddy in Bellary, Hospet, Toranagallu and DMS.
According to a CBI official source, first information report was prepared on 134 persons after the Supreme Court passed an order to register cases against Associated Mining Company (AMC) and DMS.
In the meantime, former Lokayukta justice N Santosh Hegde hailed the raids by CBI officials from Andhra Pradesh. They were able to arrest G Janardhana Reddy for his involvement in illegal mining.
Although CBI officials based in Karnataka had conducted raids a couple of times, nothing came out of that. Instead of raids, action should be initiated, Hegde said.
(sourced DNA)
Monday, October 10, 2011
CBI gets evidence against BJP MLA's firm
Monday, 10 Oct 2011
Press Trust Of India reported that CBI, investigating into illegal mining in Karnataka, has claimed to have gathered evidence on alleged export of ten lakh tons of iron ore using fake transport documents by a mining firm owned by ruling BJP MLA Mr B Nagendra.
During searches conducted last week, a CBI team led by its Superintendent of Police Mr Subramanya Rao had collected documents from Forest, Mining, and Transport departments and several fake permits had the signatures of Mr Nagendra.
In the FIR recently filed against Mr Nagendra, a close associate of the arrested former Karnataka minister Mr Gali Janardhana Reddy, the CBI had said that during 2009-10 the MLA had transported the iron ore and evaded INR 192 crore Forest Development Cess.
Mr Nagendra had been charged with using iron ore mined in 101.12 hectares of mining areas leased in Sandur taluk to Mr Janardhana Reddy owned Obulapuram Mining Company.
The sources said CBI had also identified several officials of Mines and Geology, Forest, Police and Revenue departments who have allegedly helped Mr Nagendra's firm in illegal transport of iron ore, adding that they might be questioned in the due course.
(Sourced from hindustantimes.com)
Press Trust Of India reported that CBI, investigating into illegal mining in Karnataka, has claimed to have gathered evidence on alleged export of ten lakh tons of iron ore using fake transport documents by a mining firm owned by ruling BJP MLA Mr B Nagendra.
During searches conducted last week, a CBI team led by its Superintendent of Police Mr Subramanya Rao had collected documents from Forest, Mining, and Transport departments and several fake permits had the signatures of Mr Nagendra.
In the FIR recently filed against Mr Nagendra, a close associate of the arrested former Karnataka minister Mr Gali Janardhana Reddy, the CBI had said that during 2009-10 the MLA had transported the iron ore and evaded INR 192 crore Forest Development Cess.
Mr Nagendra had been charged with using iron ore mined in 101.12 hectares of mining areas leased in Sandur taluk to Mr Janardhana Reddy owned Obulapuram Mining Company.
The sources said CBI had also identified several officials of Mines and Geology, Forest, Police and Revenue departments who have allegedly helped Mr Nagendra's firm in illegal transport of iron ore, adding that they might be questioned in the due course.
(Sourced from hindustantimes.com)
Tuesday, September 6, 2011
The case against Janardhan Reddy
Tue Sep 06 2011
Johnson T A
Bangalore: Between the financial year 2006-07 and 2010-11, the Andhra Pradesh-based Obulapuram Mining Company (OMC) of former Karnataka minister G Janardhan Reddy did not receive a single permit from the mining department in Karnataka to export iron ore.
Yet, data gathered by investigating agencies from 10 different ports in south India for the period shows that the OMC — with iron ore mining leases only in Andhra Pradesh — exported 71,61,455 MT of iron ore by claiming its point of origin as mines in Karnataka.
If there is one key fact nailing Reddy and his company in the CBI investigations, it is the disparity in the data for exports by the former minister’s company.
Much of the details of what is emerging as a widespread mafia-style iron ore smuggling business, spanning Andhra Pradesh and Karnataka, comes from the collation of information by investigating agencies as varied as the Karnataka Lokayukta, the Income Tax department and the Enforcement Directorate.
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Investigations by the Karnataka Lokayukta that resulted in a July 27 report have already highlighted the fact that OMC was being supplied iron ore by an elaborate network of front companies linked to Reddy and his associates involved in criminal smash and grab tactics in Karnataka. Lokayukta sources said the details of their investigation was provided to the CBI in an information sharing arrangement that is gradually unravelling the illegal mining mafia.
“The investigating team has reported that these export details requires further investigation. It has also stated that CBI is dealing with the matter in this regard and the said agency may take note of it,’’ the Karnataka Lokayukta report of July 27 had stated.
Lokayukta sources said Reddy finds himself at the centre of investigations along with B V Srinivasa Reddy, who is a partner and MD at OMC, on account of their day-to-day role in the activities of the company and as the brains behind it.
Others like Reddy’s brother, MLA Karunakara Reddy and their close associate B Sriramulu who resigned as an MLA on Sunday, played a less direct role but were direct beneficiaries of the illegal activities and could find themselves in the loop of investigations, sources said.
Apart from the fact that OMC exported iron ore obtained from unexplained sources the company is also accused of resorting to under invoicing during the course of their export activities between the years 2007-08 and 2008-09. The total loss to the national exchequer for the period from under invoicing has been put at Rs 215.12 crore by the Karnataka Lokayukta’s probe team.
Among other crucial findings that will have a bearing on the CBI probe in Andhra Pradesh into the mining business of Reddy and associates are the findings of the Income Tax department and Lokayukta on the activities of several benami companies linked to the Reddys.
One firm called Sri Bhakta Markandeshwara Minerals (SBMM) from Hospet in Bellary has a man called Kashi Vishwanath as its owner on paper. Investigations have shown that SBMM and at least two other similar benami companies are actually run by a man called Karapudi Mahesh who allegedly transports iron ore looted from mines in Bellary to ports around South India for export. Details from bank transactions and personal diaries of Karapudi Mahesh have revealed that he made regular payments under a “risk amount” column to a person identified in his diary as “G J Reddy Sir”.
In another illegal arrangement for obtaining iron ore, three companies, Devi Enterprises, Madhushree Enterprises and Sree Minerals, are alleged to have been floated as front companies of OMC. These companies were run by close associates of Reddy including OMC managing director B V Srinivas Reddy and Ali Khan, Reddy’s personal assistant.
These companies are alleged to have arm-twisted their way into legitimate mining areas, disputed mining sites, forest land or dormant mining sites and extracted iron ore for OMC’s supplies or export on their own. Payments made for the analysis of iron ore by Devi Enterprises and Madhushree Enterprises on behalf of OMC demonstrates that these companies were working as part of a mafia group, according to the Lokayukta report.
In 2009-10 alone, the illegal mining mafia from Bellary through its network of operatives and operations is alleged to have illegally exported a total quantity of 73,99,314 MT of iron ore from various port costing the exchequer an approximate loss of Rs 1849.82 crore at an average price of Rs 2500 per metric ton.
(By IndianExpress)
Johnson T A
Bangalore: Between the financial year 2006-07 and 2010-11, the Andhra Pradesh-based Obulapuram Mining Company (OMC) of former Karnataka minister G Janardhan Reddy did not receive a single permit from the mining department in Karnataka to export iron ore.
Yet, data gathered by investigating agencies from 10 different ports in south India for the period shows that the OMC — with iron ore mining leases only in Andhra Pradesh — exported 71,61,455 MT of iron ore by claiming its point of origin as mines in Karnataka.
If there is one key fact nailing Reddy and his company in the CBI investigations, it is the disparity in the data for exports by the former minister’s company.
Much of the details of what is emerging as a widespread mafia-style iron ore smuggling business, spanning Andhra Pradesh and Karnataka, comes from the collation of information by investigating agencies as varied as the Karnataka Lokayukta, the Income Tax department and the Enforcement Directorate.
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Investigations by the Karnataka Lokayukta that resulted in a July 27 report have already highlighted the fact that OMC was being supplied iron ore by an elaborate network of front companies linked to Reddy and his associates involved in criminal smash and grab tactics in Karnataka. Lokayukta sources said the details of their investigation was provided to the CBI in an information sharing arrangement that is gradually unravelling the illegal mining mafia.
“The investigating team has reported that these export details requires further investigation. It has also stated that CBI is dealing with the matter in this regard and the said agency may take note of it,’’ the Karnataka Lokayukta report of July 27 had stated.
Lokayukta sources said Reddy finds himself at the centre of investigations along with B V Srinivasa Reddy, who is a partner and MD at OMC, on account of their day-to-day role in the activities of the company and as the brains behind it.
Others like Reddy’s brother, MLA Karunakara Reddy and their close associate B Sriramulu who resigned as an MLA on Sunday, played a less direct role but were direct beneficiaries of the illegal activities and could find themselves in the loop of investigations, sources said.
Apart from the fact that OMC exported iron ore obtained from unexplained sources the company is also accused of resorting to under invoicing during the course of their export activities between the years 2007-08 and 2008-09. The total loss to the national exchequer for the period from under invoicing has been put at Rs 215.12 crore by the Karnataka Lokayukta’s probe team.
Among other crucial findings that will have a bearing on the CBI probe in Andhra Pradesh into the mining business of Reddy and associates are the findings of the Income Tax department and Lokayukta on the activities of several benami companies linked to the Reddys.
One firm called Sri Bhakta Markandeshwara Minerals (SBMM) from Hospet in Bellary has a man called Kashi Vishwanath as its owner on paper. Investigations have shown that SBMM and at least two other similar benami companies are actually run by a man called Karapudi Mahesh who allegedly transports iron ore looted from mines in Bellary to ports around South India for export. Details from bank transactions and personal diaries of Karapudi Mahesh have revealed that he made regular payments under a “risk amount” column to a person identified in his diary as “G J Reddy Sir”.
In another illegal arrangement for obtaining iron ore, three companies, Devi Enterprises, Madhushree Enterprises and Sree Minerals, are alleged to have been floated as front companies of OMC. These companies were run by close associates of Reddy including OMC managing director B V Srinivas Reddy and Ali Khan, Reddy’s personal assistant.
These companies are alleged to have arm-twisted their way into legitimate mining areas, disputed mining sites, forest land or dormant mining sites and extracted iron ore for OMC’s supplies or export on their own. Payments made for the analysis of iron ore by Devi Enterprises and Madhushree Enterprises on behalf of OMC demonstrates that these companies were working as part of a mafia group, according to the Lokayukta report.
In 2009-10 alone, the illegal mining mafia from Bellary through its network of operatives and operations is alleged to have illegally exported a total quantity of 73,99,314 MT of iron ore from various port costing the exchequer an approximate loss of Rs 1849.82 crore at an average price of Rs 2500 per metric ton.
(By IndianExpress)
Monday, August 1, 2011
Update on mis happenings in Bellary
Monday, 01 Aug 2011 |By TOI
Karnataka chief minister Mr BS Yeduyurappa can blame his downfall on the windfall reaped by mining companies owned by the Reddys, their associates and partners in Bellary accounting for a whopping 35% of the total iron ore mined in 2008-09 in the district.
The Supreme Court's environmental panel Central Empowered Committee gave lessee wise details of iron ore production during 2008-09 and contrasted it with 2002-03 before a bench, headed by Chief Justice SH Kapadia to show the manifold increase in mining activity.
The production of iron ore by 124 mine lease-holders from 7,646 hectares in 2002-03 was 16.01 million tonnes, which almost tripled to 44.38 million tonnes in 2008-09.
With Reddy brothers as ministers in Karnataka, their firms, friends, associates and partners prospered by indulging in either over extraction or illegal mining to account for 15.796 million tonnes of iron ore in 2008-09, which is more than 35% of the total iron ore mined from the entire district.
The CEC report authored by member secretary MK Jiwrajka and presented to the court through amicus curiae ADN Rao, listed Bellary's Zeenath Transport Company as the highest extractor of the mineral.
Zeenath Transport Company, which is giving a share of the profit to a mining company owned by the Reddys and their relatives, extracted 6.141 million tonnes of iron ore in 2008-09 that was nearly 40% of the 157.96 tonnes extracted by 22 mining companies linked to the Bellary mining barons.
Amicus curiae and senior advocate Shyam Divan showed photographs of Bellary forests being devastated by mining activities relating to Bharath Mines and Minerals, VS Lad and Sons, Associated Mining Company, S B Minerals, Shantalakshmi Jayaram, Chowgule & Co Private Ltd, Aswathnarayan Singh & Co, Auro Minerals, Ramgad Mines and Minerals Pvt Ltd, HG Ranganagoud, Zeenath Transport Co.
Divan said the activity had been going on in connivance of everyone district administration, transport authorities, environment and mining departments as all the mine lease holders have dumped the overburden (the extracted earth) on the hill slopes destroying the forests.
Karnataka chief minister Mr BS Yeduyurappa can blame his downfall on the windfall reaped by mining companies owned by the Reddys, their associates and partners in Bellary accounting for a whopping 35% of the total iron ore mined in 2008-09 in the district.
The Supreme Court's environmental panel Central Empowered Committee gave lessee wise details of iron ore production during 2008-09 and contrasted it with 2002-03 before a bench, headed by Chief Justice SH Kapadia to show the manifold increase in mining activity.
The production of iron ore by 124 mine lease-holders from 7,646 hectares in 2002-03 was 16.01 million tonnes, which almost tripled to 44.38 million tonnes in 2008-09.
With Reddy brothers as ministers in Karnataka, their firms, friends, associates and partners prospered by indulging in either over extraction or illegal mining to account for 15.796 million tonnes of iron ore in 2008-09, which is more than 35% of the total iron ore mined from the entire district.
The CEC report authored by member secretary MK Jiwrajka and presented to the court through amicus curiae ADN Rao, listed Bellary's Zeenath Transport Company as the highest extractor of the mineral.
Zeenath Transport Company, which is giving a share of the profit to a mining company owned by the Reddys and their relatives, extracted 6.141 million tonnes of iron ore in 2008-09 that was nearly 40% of the 157.96 tonnes extracted by 22 mining companies linked to the Bellary mining barons.
Amicus curiae and senior advocate Shyam Divan showed photographs of Bellary forests being devastated by mining activities relating to Bharath Mines and Minerals, VS Lad and Sons, Associated Mining Company, S B Minerals, Shantalakshmi Jayaram, Chowgule & Co Private Ltd, Aswathnarayan Singh & Co, Auro Minerals, Ramgad Mines and Minerals Pvt Ltd, HG Ranganagoud, Zeenath Transport Co.
Divan said the activity had been going on in connivance of everyone district administration, transport authorities, environment and mining departments as all the mine lease holders have dumped the overburden (the extracted earth) on the hill slopes destroying the forests.
Monday, March 28, 2011
Jindals, Reddys may jointly bid for Hancock's assets
Mon Mar28, 2011
Tags : CNPC, Sinopec Group, CNOOC,
BANGALORE/MUMBAI: The Jindals and the Reddys of the GVK Group could join hands with a third Indian company to offer a combined bid for the coal assets of Australia's Hancock Coal, which is valued at more than $2.7 billion, as a worldwide race for thermal coal spikes valuations of the mineral. The Jindals' JSW Energy has suggested to its Indian counterparts, including the Aditya Birla group , on forming a consortium similar to the strategy typically adopted by Chinese companies, to pool finances and present a formidable bid for large global assets.
"We have suggested this option and are awaiting their reaction," said a person directly involved in the negotiations. The valuations of the (Hancock) mines has become very expensive and it would be a good idea to put in a joint bid," he added.
The Aditya Birla Group, which is looking at the mines through its unlisted subsidiary Essel Mining, didn't comment on the consortium proposal. GVK Power vice- chairman Sanjay Reddy said that although his firm is keen on owning coal mines in Australia and Indonesia, he didn't elaborate on the bids. Indian state-run companies have already formed such a consortium, the International Coal Ventures Ltd that looks at bidding for coal and ore assets.
Hancock Coal is selling Kevin's Corner and Alpha Coal, both located in the Queensland province, as it expects strong valuations for the assets which are estimated to have 7.9 billion tonnes of thermal coal, according to the company's website. Thermal coal is used by power producers and although India has large deposits of the mineral, a high ash content and inadequate production by state-run major Coal India, is forcing Indian utilities to scout overseas for the coal. So far, Australia, Indonesia and countries in Africa have been common destinations for Indian power firms.
Korean firm Korya Electric and Power Company and two other Chinese bidders are also in the fray for Hancock, said the people who are aware of the negotiations with the Australian company. In the past, Chinese oil giants, including CNPC, Sinopec Group and CNOOC, have shared strengths to bid for large oil assets which are typically valued at more than $10 billion. The firms have pooled finances and technical skills and manpower to present an attractive package for the shareholders of target companies.
"While it's a convenient method to acquire large assets, varied management styles of the companies in the consortium could prove to be a handicap," said a person from a financial services company.
A delegation from Hancock is scheduled to visit India early next month for final discussions with Indian companies, said one of the persons cited earlier. The delegation is also scheduled to visit China after the India trip. Hancock does not own a captive port facility to transport coal which could have prompted several bidders to withdraw from indicative bids. The costs of building an infrastructure, like a port, would almost as that of the mine. (sourced:Economic Times)
"We have suggested this option and are awaiting their reaction," said a person directly involved in the negotiations. The valuations of the (Hancock) mines has become very expensive and it would be a good idea to put in a joint bid," he added.
The Aditya Birla Group, which is looking at the mines through its unlisted subsidiary Essel Mining, didn't comment on the consortium proposal. GVK Power vice- chairman Sanjay Reddy said that although his firm is keen on owning coal mines in Australia and Indonesia, he didn't elaborate on the bids. Indian state-run companies have already formed such a consortium, the International Coal Ventures Ltd that looks at bidding for coal and ore assets.
Hancock Coal is selling Kevin's Corner and Alpha Coal, both located in the Queensland province, as it expects strong valuations for the assets which are estimated to have 7.9 billion tonnes of thermal coal, according to the company's website. Thermal coal is used by power producers and although India has large deposits of the mineral, a high ash content and inadequate production by state-run major Coal India, is forcing Indian utilities to scout overseas for the coal. So far, Australia, Indonesia and countries in Africa have been common destinations for Indian power firms.
Korean firm Korya Electric and Power Company and two other Chinese bidders are also in the fray for Hancock, said the people who are aware of the negotiations with the Australian company. In the past, Chinese oil giants, including CNPC, Sinopec Group and CNOOC, have shared strengths to bid for large oil assets which are typically valued at more than $10 billion. The firms have pooled finances and technical skills and manpower to present an attractive package for the shareholders of target companies.
"While it's a convenient method to acquire large assets, varied management styles of the companies in the consortium could prove to be a handicap," said a person from a financial services company.
A delegation from Hancock is scheduled to visit India early next month for final discussions with Indian companies, said one of the persons cited earlier. The delegation is also scheduled to visit China after the India trip. Hancock does not own a captive port facility to transport coal which could have prompted several bidders to withdraw from indicative bids. The costs of building an infrastructure, like a port, would almost as that of the mine. (sourced:Economic Times)
Tags : CNPC, Sinopec Group, CNOOC,
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