Companies respond to CBI in probe against Jagan

Representatives of around 20 companies, which had invested in the various businesses owned by YSR Congress chief and Kadapa MP YS Jaganmohan Reddy, have so far appeared before CBI.

Last Updated: Jul 22, 2011, 23:26 PM IST

Hyderabad: Representatives of around 20
companies, which had invested in the various businesses owned
by YSR Congress chief and Kadapa MP YS Jaganmohan Reddy,
have so far appeared before CBI.

The agency is probing allegations of amassing assets
disproportionate to known sources of income against Jagan.

"Since the CBI began its probe last week,
representatives of around 20 companies have presented their
stand and handed documents," a senior CBI official said to a news agency.

"Preliminary enquiry is on...all these documents are
being verified, and we are recording the statements," the
official said.

The official refused to comment when asked if the
firms also provided details of their investment into the
Jagan`s companies.

The CBI, earlier, had issued notices to 24 companies
which have invested in the entities owned by Jaganmohan.

This followed the Andhra Pradesh High Court`s
directive to submit a preliminary report of probe into
allegations that Jaganmohan Reddy misused the office of his
father late YS Rajasekhara Reddy to get investments.

Report is to be filed within two weeks. Some of the
firms which were issued notices are owned by Jagan himself.

Meanwhile, as a part of its preliminary enquiry into
the allegations of corruption in the Emaar-APIIC land deal,
CBI has recorded the statements of some senior officials of
the Andhra Pradesh Industrial Infrastructure Corporation
(APIIC).

The high court has ordered a preliminary probe by the
central agency into the allegations levelled by state Textiles
Minister P Shankar Rao.

Rao had alleged that there were serious irregularities
in the APIIC-Emaar Properties project deal and had accused
manipulation by officers of APIIC in favour of Emaar,
resulting in loss of crores of rupees to the exchequer.

PTI