Hyderabad: The Central Bureau of Investigation on Saturday filed a 68-page chargesheet against Kadapa MP and YSR Congress president YS Jagan Mohan Reddy, son of former Andhra Pradesh chief minister YS Rajasekhara Reddy in disproportionate assets case here.
While facing the repercussion Jagan may have to face arrest soon, official sources said.
The CBI has also charged 12 other members of the party in the case. The investigating agency, which registered the case on August 17 last year, has listed 72 persons and organisations including Jagan as accused.
The agency has already arrested Jagan’s confidant and auditor Vijayasai Reddy in the case and is gearing up for more arrests.
Before he is arrested, Jagan is likely to be quizzed by the Enforcement Directorate which is also investigating the
manner in which funds from some tax haven countries have been
routed to his businesses, the sources added.
The large-scale investments in various companies floated
by Jagan, particularly the Telugu newspaper and television
channel Sakshi, first came under the scanner of the Income Tax
Department in 2010.
The Income Tax authorities established that several
"investors" who put in huge money in Jagati Publications, that
publishes Sakshi daily, were "non-existent".
CBI then picked up the case on the direction of the
Andhra Pradesh High Court and expanded the purview of its
investigations to cover the alleged quid pro quo deals
benefitting Jagan when his father YS Rajasekhara Reddy was
the state Chief Minister.
The ED investigation into the case ran parallel to the
CBI alleged large-scale investments came into Jagan`s
companies allegedly as a quid pro quo to the largesse of
Rajasekhara Reddy in the form of allotment of government land.
The Comptroller and Auditor General too castigated the
YSR government for land distribution spree that had allegedly
caused monetary loss running into several thousand crores of
rupees to the state exchequer.
But political factors could well determine whether Jagan
will indeed be arrested as ruling Congress party, which he
quit in November 2010, is said to be desperate to take him
back or at least join hands.
Meanwhile, the YSR Congress party claimed that the
charge sheet was filed even before the investigation
The entire YSR cabinet is under scanner for a long time in the illegal assets case due to which the state Congress did face a tough time. With today’s development, the entire situation has become more embarrassing. But by standing tall with the YSR regime, the party definitely has tried to put a brave face; although YSR Congress is trying hard to put a lid on the entire scam by assuring repeatedly that necessary steps would be taken in the matter.