Friday, June, 14,2024

Latest News

Delhi excise case: Court allows Businessman Sarath P Reddy's to turn ED's approver

New Delhi: The Rouse Avenue Court on Thursday allowed the Hyderabad-based businessman P Sarath Reddy to turn approver for ED in an alleged excise policy case.

The Special Judge MK Nagpal on Thursday allowed Reddy to turn approver in the case while also granting him pardon. Sarath P Reddy was recently granted regular bail by Delhi High Court on medical grounds. Reddy is the head of a Hederabad-based Aurobindo Pharma company and is engaged in liquor business, said the ED in court earlier.

While arguing against Sarath Reddy, ED earlier submitted that it is amply evident that, he had actively planned and conspired with various business owners and politicians and indulged in unfair market practices to gain undue advantage in the Delhi Excise Policy, 2021-22. Applicant led a nexus controlling a considerable market share through cartelization in clear contravention of objectives of Delhi Excise Policy.

Earlier, Delhi-based businessman Dinesh Arora turned approbation in CBI case. While moving an application Arora said, " I am ready to make true disclosure voluntarily about the case and want to be an approver in the case" (ANI)

  Share on

Related News