CBI conducts searches at offices of Reddy's wife, JSW Steel

Bellary: The CBI today searched offices of two companies, including one owned by the wife of arrested mining baron and former minister G Janardhana Reddy, and also the residence of his close associate B Nagendra. [caption id=“attachment_97874” align=“alignleft” width=“380” caption=“former minister G Janardhana Reddy. Reuters”]  [/caption] Sources said the 25-member CBI team, led by its Karnataka wing Superintendent of Police Subramanya Rao, conducted searches at the office of Associated Mining Company (AMC) owned by Aruna Lakshmi at Parvathinga and seized some documents. The house of Koodligi MLA B Nagendra was also searched, they said. The Human Resources Department office of Jindal Steel Works was also searched in the backdrop of the company getting about 51 lakh tonnes of iron ore from AMC in March 2010, sources said. The Lokayukta report on illegal mining had found certain irregularities indulged in by AMC in iron ore trading, they said. JSW Steel Ltd, India’s No 3 steel producer, on Monday denied reports of raids by the CBI at its Vijaynagar unit in Karnataka. Shares of the company, in which Japan’s JFE holds 14.8 percent, has already lost about half its market value this year. On Monday, it hit a 52-week low of Rs 540, falling as much as 8.8 percent in early deals. PTI and Reuters