DVAC case against sand baron Sekhar Reddy, 10 others

Sand baron Sekhar Reddy was in the news immediately after the demonetisation when Income Tax sleuths seized a total of Rs 131 crore cash, including Rs 34 crore worth new Rs 2,000 currency, and 177 kg of gold from his premises in December 2016. 

Apart from Sekhar Reddy, DVAC listed K Sampath, formerly Sub- Registrar, Katpadi (now Sub Registrar, Nagapattinam), and A Abdul Muneer, formerly Special Deputy Collector (Stamps) Vellore, (now Regional Manager, TNCSC Dharmapuri) as accused among others. 

According to DVAC FIR registered recently, Sekhar Reddy’s power agent Parasuraman in December 2016 purchased a plot for Rs 2.46 crore as per official records while the actual value of the land as per guideline value was Rs 13.72 crore and the difference was Rs 11.25 crore. Officials allegedly misused their official position by violating the guideline value and calculated the land area in cents instead of square feet and registered the above-said land in cents, wantonly reducing the stamp value and registration fees and thereby causing loss to the government exchequer to the tune of Rs 90 lakh including stamp duty fee, the DVAC alleged.