Businessman who helped Shekar Reddy arrested
Enforcement Directorate officials arrested a big businessman Parasmall Lodha from Kolkata on Thursday. ED officials said that he was taken into custody at Mumbai airport. They said that Lodha has helped businessman J Shekar Reddy from Chennai and a Lawyer Rohit Tandon from Delhi in exchanging 25 crore in old 500 and 1,000 denomination notes for new currency. Lodha is one of the famous businessman in Kolkata. Most famous politicians and Bollywood actors attended to his daughter’s wedding which took place recently. Income Tax officials raided Rohit Tandon house recently and seized 13.65 crore rupees and 2.60 crore rupees was new curency. It is estimated taht Tandon property would be of value 1000 crores. On Wednesday CBI arrested businessman J Shekhar Reddy and two others here for money laundering. The Income Tax department recently seized 177 kg of gold and cash totalling Rs 96 crore in old 500 and 1,000 denomination notes and Rs 34 crore in new currency from businessmen Reddy, Srinivasalu and Prem. Reddy, a contractor, had reportedly executed a lot of work for the Tamil Nadu government. The CBI has also arrested Srinivasalu and Prem. Sekhar Reddy was a Board member of Tirumala Tirupati Devasthanams (TTD). Sekhar Reddy runs sand mining business and is said to have lucrative contracts from the Tamil Nadu government. After the raids, the AP Government has removed him from the TTD Board.