ED searches against Karnataka Congress MLA Subba Reddy in FEMA case
At least five premises in Bengaluru, including that of the Bagepalli legislator, are being covered under section 37 of the Foreign Exchange Management Act (FEMA), they said.
The probe pertains to allegations of undisclosed foreign assets of Reddy(59), and his family members.
Some deposits allegedly held by the MLA in foreign banks, investment in purchase of vehicle and immovable properties in Malaysia, Hong Kong, Germany etc.
are under the scanner of the ED, the sources said.
The MLA, who represents Bagepalli assembly seat is in Chikkaballapura district, could not be contacted for a comment immediately.
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