ED proceedings against Reddy quashed
Cases were registered by the ED in 2004, 2005 and 2006 against Reddy, his wife and others.
The Karnataka High Court on Monday quashed proceedings against former Karnataka minister Janardhan Reddy under the Prevention of Money Laundering Act.
The high court observed that an amendment made to the act in 2009 cannot be imposed in retrospective effect to a 2004 case.
Cases were registered by the ED in 2004, 2005 and 2006 against Reddy, his wife and others. Several properties had been seized in connection with this case.
Reddy had challenged the proccedings in the High Court following which the same was stayed.
On Monday, the court quashed proceedings and ordered the agency to return the seized assets.
OneIndia News
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