Jagan sold shares of Jagati for a premium

Jun 06, 2012 |

Hyderabad

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The CBI has alleged that Kadapa MP Y.S. Jagan Mohan Reddy and his auditor V. Vijay Sai Reddy had overvalued Jagati Publications and received investments by allotting shares at a huge premium. It has also alleged that crores of rupees of advertisements were given to Sakshi by violating norms.

Editorial director of Sakshi newspaper Sajjala Ramakrishna Reddy was interrogated for half-an-hour by CBI SP H. Venkatesh and a notice was served on him under Section 160 of the Criminal Procedure Code to record his statements as witness. Mr Jagan Mohan Reddy was interrogated for the third consecutive day at the CBI office. He was transferred to the Chanchalaguda Jail in the evening.

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