Bengaluru, July 10 (UNI) The Enforcement Directorate (ED) today conducted searches at multiple locations linked to Karnataka Congress MLA SN Subba Reddy as part of an ongoing investigation under the Foreign Exchange Management Act (FEMA).
According to official sources, the raids covered at least five premises in Bengaluru, including the residence and associated locations of Reddy, who represents the Bagepalli Assembly constituency in Chikkaballapura district.
The probe centres on allegations that Reddy (59) and his family members possess undisclosed foreign assets, including suspected deposits in foreign bank accounts and investments in immovable properties and vehicles in countries such as Malaysia and Germany.
The searches were carried out under Section 37 of FEMA, which empowers the ED to examine suspected violations involving foreign exchange and overseas assets.
Efforts to reach the MLA for comment remained unsuccessful at the time of filing this report. UNI BDN SSP