Jagan Reddy conspired with YSR, others: CBI

Last Updated: Friday, August 19, 2011 - 22:15

Hyderabad: The CBI has alleged that Kadapa
MP YS Jaganmohan Reddy conspired with his father late YS
Rajasekhara Reddy and other individuals and companies to
"cheat the government of Andhra Pradesh in the matter of
granting certain favours".

In its FIR in the case related to Jagan, a copy of which
was filed in a special court here, the CBI charged that he
"exercised his influence on his (late) father, then chief
minister, and also "unknown public servants" of the state
government, who in turn abused their official positions by
corrupt or illegal means and issued orders favourable to many
companies.

The charges relate to criminal conspiracy, cheating,
criminal breach of trust, falsification of accounts and
criminal misconduct, according to the FIR.

"As a quid pro quo, those companies, other unknown
companies and unknown persons invested several crores of
rupees in Jagati Publications, Sandur Power Company Limited,
Carmel Asia Holdings, Bharathi Cement Corporation Ltd and
other companies promoted by Jaganmohan Reddy at a huge
premium," the CBI FIR said.

The agency filed the case against Jagan and others based
on a directive of the Andhra Pradesh High Court that disposed
of a petition filed by current Textile Minister P Shanker Rao,
into which TDP leaders K Yerran Naidu and Yanamala
Ramakrishnudu impleaded.

The 28-page FIR listed Jagan, now president of YSR
Congress, as number one accused followed by V Vijay Sai Reddy,
vice-chairman of Jagati Publications. In all, the FIR named 72
companies and individuals besides directors, promoters of
unknown companies, unknown public servants of the state
government and "unknown others" as accused in the case under
IPC Sections 120 (B) read with 420, 409, 420 and 477 (A).

CBI has been conducting searches since yesterday in the
residences and offices of Jagan apart from the houses and
businesses of those who invested in his companies.

PTI



First Published: Friday, August 19, 2011 - 22:15

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