Gali Janardhan Reddy case: ED seizes Rs 884 cr-worth shares in illegal mining case
The probe reveals the company had illegally mined iron ore valued at Rs 884.13 crore between 2007 and 2010. The amount constitutes “proceeds of crime” and was found to be invested in Brahmani Industries Limited. The ED attached 88.41 crore shares of BIL, with a face value of Rs 10 each, held by OMC. It also directed BIL not to dispose off, transfer, sell, move, lease out or deal in any similar manner with its plant, machinery, land, equipment and appliances.
The CBI had filed a chargesheet in 2011 against OMC and its directors.
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