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CBI Searches Premises Of Jagan

PTI 18 Aug 2011, 19:54:43 IST

Hyderabad, Aug 18: CBI today carried out searches at various premises of Y S Jagan Mohan Reddy following charges that investments made in his companies were “quid-pro-quo” for favours doled out by his father Y S Rajasekhara Reddy, the then Chief Minister of Andhra Pradesh.

CBI registered a case against Jagan on the instructions of Andhra Pradesh High Court under relevant sections of the Indian Penal Code pertaining to cheating, criminal conspiracy, criminal breach of trust and under provisions of Prevention of Corruption Act.

Agency spokesperson Dharini Mishra said in Delhi that searches have been conducted at Hyderabad, Bangalore, Chennai, Kolkata, Rajkot, Delhi and Mumbai, in this connection. 

“The CBI has registered a case...against a Member of Parliament from Andhra Pradesh, and others, on the orders of High Court of Andhra Pradesh...on the allegation that the investors who invested in the companies owned and promoted by the Member of Parliament at very high premiums were as a quid-pro-quo for the favours doled out by the then Chief Minister of Andhra Pradesh,” she said.

Acting on the separate petitions filed by Textile Minister P Shankar Rao and TDP leader Yerran Naidu, the Andhra Pradesh High Court had recently ordered CBI to probe the alleged illegal assets that the Kadapa MP had amassed during his father's regime as Chief Minister.

The agency in a separate case also searched the premises of Principal Secretary (Home) B P Acharya and builder Emaar-MGF in Hyderabad.

In the second case, searches were conducted after CBI registered a case against Emmar-MGF, its sister concerns and others on the allegations that favours were granted to it by the state Government officials in the execution of a posh real estate project at Manikonda, here.

The agency registered the case against the real estate developer on the instructions of the High Court under the IPC sections pertaining to cheating, criminal conspiracy and provisions of Prevention of Corruption Act. 

“The CBI has registered a case...on the orders of the Hon'ble High Court of Andhra Pradesh against Hyderabad-based private Real Estate company, its sister concerns and others on the allegation of execution of a real estate project at Manikonda in Hyderabad with the connivance of certain public servants of the Government of Andhra Pradesh,” the spokesperson said.

She said searches are being conducted at Hyderabad in this connection.

Reacting to the development, Executive President Emmar-MGF Sanjiv Saddy said, “As a corporate policy, the group always cooperates with the investigating agency and adheres by the law. We are providing all the documents sought by the CBI officials and cooperating with them.”

The Andhra Pradesh High Court had on August 10 ordered a CBI inquiry into the land allotments made to Emaar by the then Rajasekhara Reddy Government and dilution of the stake of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) in the joint venture with Emaar for the development of a township in the city. PTI