CBI probing fund transfer charges against Jagan

Last Updated: Sunday, April 8, 2012 - 19:20

New Delhi/Hyderabad: After filing a charge
sheet against YS Jagan Mohan Reddy for alleged abuse of his
official position, the CBI has sent a request to various
countries seeking their assistance in probing alleged transfer
of funds by the son of former Andhra Pradesh Chief Minister, a
charge denied by him.

The letter of request, sent through diplomatic channel,
alleged that between 2004 and 2009 when YS Rajashekar Reddy
was the Chief Minister, his son Jagan and his family allegedly
defrauded the public exchequer by way of obtaining several
favours from the state government in matters related to
issuance of licences and permissions.

Jagan and his family have also been charged in the letter
with obtaining favours in matters related to allotment of
lands for special economic zones and mining leases to
companies which made huge investments in companies floated by
younger Reddy at abnormally high rates of premium.

Denying all the charges, Reddy in a statement to PTI
said, "All the investments into my companies have been of
sound commerce and have always been complying with the law of
the land. The companies, which invested into my companies,
have also invested into other blue chip companies in the
country."

"There has been no wrongdoing by Jagan Mohan Reddy. So
there`s nothing to be concerned about. We are sure he is going
to come out clean in the end," a statement from the party said
and accused the CBI of working overtime with a single-minded
agenda to implicate the Kadapa MP in some case or the other.

The Letters Rogatory sent under the signatures of the
Special Judge of CBI in Hyderabad has requested the British
Virgin Island to ascertain the details of the owners and
authorised signatories of and bank account details of a firm
incorporated in that country besides ascertaining whether
funds from companies based in Mauritius had been routed to
India through there.

It also requests for ascertaining the genuineness of the
shareholders of the firm and their relationship if any with YS Rajshekar Reddy or YS Jagan Mohan Reddy, it said.

PTI



First Published: Sunday, April 8, 2012 - 19:20

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