Court allows Aurobindo Pharma head Sarath P Reddy to turn ED's approver in alleged excise policy case
New Delhi: The Rouse Avenue Court on Thursday allowed the Hyderabad-based businessman P Sarath Reddy to turn approver for ED in an alleged excise policy case.
Sarath P Reddy was recently granted regular bail by Delhi High Court on medical grounds. Reddy is the head of a Hederabad-based Aurobindo Pharma company and is engaged in liquor business, said the ED in court earlier.
Read also: Aurobindo Pharma Director gets bail in Delhi Excise Policy Case
While arguing against Sarath Reddy, ED earlier submitted that it is amply evident that, he had actively planned and conspired with various business owners and politicians and indulged in unfair market practices to gain undue advantage in the Delhi Excise Policy, 2021-22. Applicant led a nexus controlling a considerable market share through cartelization in clear contravention of objectives of Delhi Excise Policy.
Earlier, Delhi-based businessman Dinesh Arora turned approbation in CBI case. While moving an application Arora said, ” I am ready to make true disclosure voluntarily about the case and want to be an approver in the case”
