Bangalore:  Properties worth Rs 884 crore owned by the Obulapuram Mining Company (OMC) owned by former minister Janardhan Reddy who is now behind bars, has been seized by the Bangalore Zonal Unit of the Directorate of Enforcement.

 Subhash Agarwal, Joint Director of the Enforcement Directorate, said iron ore worth Rs 884.13 crore was extracted illegally by the mining company between 2007 and 2010. The money thus earned illegally had been invested in shares of Brahmani Industries Ltd, he informed.

In the meantime, the Directorate has directed the Brahmani Industries not to dispose, transfer, sell, move, lease or deal with any manner of the plant machinery, land, equipment, appliances. He said the Directorate has begun legal proceedings under the Prevention of Money Laundering Act following the FIR registered by the CBI under various sections of the IPC, Indian Forests Act, Mines and Minerals (Development and Regulation) Act and the Prevention of Corruption Act.