Overview
- Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad dismissed Y Shiva Reddy’s challenge to his ED arrest and remand in the money-laundering case.
- The court held that accepting a bribe amounts to acquiring proceeds of crime under the Prevention of Money Laundering Act.
- Judges cited recoveries of Rs 8.23 crore in cash and jewellery valued at Rs 23.28 crore, along with witness statements, as furnishing a prima facie basis for the ED.
- According to ED allegations, Reddy and others enabled illegal permissions for 41 buildings between 2019 and 2023 on land reserved for a sewage plant and dumping ground, with bribe money allegedly used to buy jewellery and luxury items.
- The order records that the ED began its probe in February 2025, searched Reddy’s residences on June 23, 2025, shared findings that led to an FIR on August 1, 2025, and notes that the tally of alleged proceeds may change as investigations progress.