Jagan’s firm hit by auditing scam

Last Updated: Saturday, November 12, 2011, 14:48

Tags: Jagan Reddy, Auditing scam, Jagathi Publications

Zeenews Bureau

Hyderabad: YSR Congress Party president YS Jaganmohan Reddy is facing fresh trouble.

According to reports, leading auditing firm Deloitte Touche Tohmatsu India Private Limited has told the Central Bureau of Investigation (CBI) that it had cooked the accounts of Jagan’s media house, Jagathi Publications.

The auditing firm admitted before the CBI earlier this week that it had fudged the firm’s books to help Jagan sell his company’s shares at a premium. Reports said a share with a face value of Rs 10 was sold at a huge premium of Rs 350.

According to Deloitte senior director PN Sudarshan, Jagathi Publications’ books were cooked up by Rs 1,000 crore - from Rs 2,500 crore to Rs 3,500 crore - for its five-year business plan period. This was done at the behest of the firm’s vice-chairman and Jagan's personal auditor V Vijay Sai Reddy in April 2008.

Vijay Sai Reddy is also an accused in Jagan's illegal assets case.

First Published: Saturday, November 12, 2011, 10:58

Comments

sree - United kingdom
Guys, every one in politics are currupted only. Not jus Jagan and his father looted, Before he comes into power hitech curruption is the one which showed way to many people. Coming to Jagan, what CBI was doing is exactly a screen play by Congress high command, this is really bad. No need of CBI, if an incomtax rides any firm in India or any where they can find some thing to prove there are irregularities. I can`t imangin if some one rides Ambani how many people comes into the light. Every one is same..so Don`t just point out one guy...as it looks other politicians doens`t no anything. Atleast I support Youth coming and hope for a minimum change.

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Muniram - bangalore
100% i will tell he can`t go jail

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Muniram - bangalore
I beleave he is innocent

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Raghu - Dubai
How Jagan is innocent? Bad part of India ia that there are people sold out to support illegal and corrupt persons in India just for 10 to 100 INR. They come out with placards and shout for Jagan. Jagan can easily give lakhs to lakhs of people to shout for him. Every one knows how Rajasekha Reddy made money and built palaces and industries at behest of Party president. He just left rice on his hands to poor innocent people before cleaning after eating biryani.

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BRIJ - NEWYORK
JAGAN WILL SEE JAIL REAL SOON,HE IS NOT AS INNOCENT AS HE LOOKS.

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ramu - hyderabad
100% correct, his brother (Gali) also waiting for Jagan

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omshivam - Hyderabad
Hi is not fraud but a gifted fraud he has got the gift to be like a fraud His cousin`s are the genuine frauds RAJEEV Reddy - Country Club (Country Vacations) Tournover - 100 crores Cheating with Memberships, Vacations, foods..etc He cheats Familys with middle income and creditcards Janardhana Reddy - Lootes money by illegal mining, bribing government persons, and fooling people.Many cousins around use the power to loot money and power.May got punishment right.Fight agaist fraud / corruption and pray for peace. Om Namah Sivaya.

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Sreenivas - Hyderabad
Why do you spread rumours? Who will believe that thre was something wrong done in account in 2008. This is CBI game. They are forcibly getting false evidecnecs at behest of Congress, TDP. But they can not do anything to Jagan. These are all bogus cases and bogus evidences. People are firmly behind Jagan. They will not believe these type of cooked up stories. How can an auditor of Deloitte fudge the figures. Bullshit what CBI has collected as evidence.

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Jagan - London
Srinivas, use some common sense. It is an open fact that Jagan and his father looted whole andhra pradesh. Please don`t support corrupt people. Jagan will go to jail soon.

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Das - bangalore
CBI can prove what Central Govt. dictates and wishes!

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Most liked Comments

Jagan - London
Srinivas, use some common sense. It is an open fact that Jagan and his father looted whole andhra pradesh. Please don`t support corrupt people. Jagan will go to jail soon.