New Delhi: Delhi’s Rouse Avenue Court has given a big relief today to Sharad Chandra Reddy, accused in the Delhi Excise Policy case. However, Reddy has got interim bail only for 14 days. Sharad Chandra Reddy had sought bail from the court to attend her grandmother’s rites after her death. For the time being, the court has granted bail considering grandmother’s death as a valid ground.
In the Delhi Excise scam, the ED arrested Sharad Chandra Reddy, the top executive and former director of Hyderabad-based Aurobindo Pharma Limited, on 10 November. Apart from Sharad Reddy, the Enforcement Directorate had also arrested Binoy Babu, an executive of an international liquor brand. Links were found regarding Sharad Chandra Reddy’s alleged association with some AAP politicians. Delhi’s Deputy CM Manish Sisodia is the number one accused in this case.
According to the official website of Aurobindo Pharma Limited, Sharad Chandra Reddy has graduated from Business Administration. He is a second generation businessman in his family. Aurobindo Pharma was founded in 1986 by PV Ramaprasad Reddy, K Nityananda Reddy and a group of other professionals. The group started the company in 1988-89 with a single unit for manufacturing semi-synthetic penicillin at Puducherry.
Let us tell you that Sharad Chandra Reddy, an accused in the Delhi Excise Policy case, had filed a petition for bail in the Rouse Avenue Court on December 5. Rouse Avenue Court has issued notice to the concerned parties on Sharad Chandra Reddy’s bail plea. There will be a hearing in this matter on December 13 at 2 pm. ED told the court that investigation against Sharad Chandra Reddy is pending, charge sheet has not yet been filed against Sharad Chandra Reddy.
