The BJP rally, which was presided over by State BJP President Prahalad Joshi and other senior party leaders, started from the Freedom Park but was stopped at Anand Rao Circle as they were heading to lay siege.
Addressing the rally before being taken into preventive custody, Joshi criticised the Congress for its "double standards" on tainted ministers.
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"Instead of removing Lad from the ministry, the Chief Minister is defending him," he charged.
Former Ministers R Ashok and Suresh Kumar were among other leaders taken into preventive custody.