Latest news with #SNSubbaReddy
Hans India
14 hours ago
- Politics
- Hans India
Cong MLA blames political rival for ED raids over alleged foreign assets
Chikkaballapura: Congress MLA S N Subba Reddy on Friday alleged that a political rival was behind the ED raids conducted on his residence and five other premises in connection with a probe into alleged undisclosed foreign assets. Speaking to reporters, Reddy denied owning any foreign assets and said the Enforcement Directorate (ED) has summoned him for questioning on July 14. At least five premises in Bengaluru, including that of the Bagepalli legislator, were searched under section 37 of the Foreign Exchange Management Act (FEMA), on Thursday. The probe pertains to alleged foreign bank deposits, investments in vehicles, and immovable properties in countries including Malaysia, Hong Kong, and Germany, allegedly held by Reddy and his family members, sources said. He said, during the raid, the ED officials questioned him about whether he held any assets abroad, specifically in Malaysia. 'I told the ED officials that if at all there is an investment of even a paisa in the foreign country, I will donate my entire property to your government. I even told them that I will give it in affidavit, which they can take away with them,' said Reddy. He added that the ED officials did not give him any clear information during the raid and said he would appear before the investigators on Jul 14.
United News of India
2 days ago
- Politics
- United News of India
ED conducts raids on Karnataka Cong MLA
Bengaluru, July 10 (UNI) The Enforcement Directorate (ED) today conducted searches at multiple locations linked to Karnataka Congress MLA SN Subba Reddy as part of an ongoing investigation under the Foreign Exchange Management Act (FEMA). According to official sources, the raids covered at least five premises in Bengaluru, including the residence and associated locations of Reddy, who represents the Bagepalli Assembly constituency in Chikkaballapura district. The probe centres on allegations that Reddy (59) and his family members possess undisclosed foreign assets, including suspected deposits in foreign bank accounts and investments in immovable properties and vehicles in countries such as Malaysia and Germany. The searches were carried out under Section 37 of FEMA, which empowers the ED to examine suspected violations involving foreign exchange and overseas assets. Efforts to reach the MLA for comment remained unsuccessful at the time of filing this report. UNI BDN SSP
India Today
2 days ago
- Politics
- India Today
ED raids Karnataka Congress MLA-linked premises over undisclosed foreign assets
The Enforcement Directorate (ED) on Thursday carried out searches at the premises of Karnataka Congress MLA SN Subba Reddy and his associates as part of a probe into alleged possession of undisclosed foreign assets, official sources least five premises in Bengaluru, including the residence of the 59-year-old Bagepalli legislator, were searched under Section 37 of the Foreign Exchange Management Act (FEMA), the sources investigation focuses on allegations that Reddy and his family members hold undisclosed foreign assets, including deposits in overseas bank accounts, investments in vehicles and immovable properties in Malaysia, Hong Kong, Germany and other jurisdictions. The searches covered the MLA's residence, his business entities, and premises linked to key associates. The Bagepalli constituency that Reddy represents is located in Karnataka's Chikkaballapura comes a month after the ED, on June 11, conducted searches at eight locations in Karnataka linked to Congress leader and Ballari MP E Tukaram as well as other Congress leaders and raids were part of a separate investigation into alleged embezzlement of funds from the Karnataka Valmiki Scheduled Tribes Development Corporation Limited (KVSTDCL), with the siphoned money reportedly used to fund the Lok Sabha election campaign.- EndsMust Watch IN THIS STORY#Karnataka
New Indian Express
2 days ago
- Business
- New Indian Express
ED searches against Karnataka Congress MLA Subba Reddy in FEMA case
BENGALURU: The Enforcement Directorate (ED) on Thursday conducted searches at the premises of Karnataka Congress MLA SN Subba Reddy and some others in a FEMA probe linked to alleged possession of undisclosed foreign assets, official sources said. 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.
