Jagan, Vijay Sai falsified info: CBI

Apr 24, 2012 |

Hyderabad

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The Central Bureau of Investigation alleged that Mr Jagan Mohan Reddy and Mr Vijay Sai Reddy gave false and exaggerated information about the worth of Jagathi Publications to the company’s auditor Deloitte to get it to fix a high premium for the share value. This was for the purpose of receiving bribes for the favours extended through the office of the Chief Minister in the garb of investments in the company and also to attract investments from industrialists like Mr Dandamudi.

The second chargesheet filed by the CBI runs into 53 pages with 30 witnesses. All the three were charged under the Prevention of Corruption Act, 120B (criminal conspiracy), 420 (cheating), 409 (criminal breach of trust by public servant, merchant, banker or agent) and 477 (falsification of accounts).

The first chargesheet against Mr Jagan Mohan Reddy and 12 others was regarding doling out land and SEZ plots to companies like Aurobindo, Hetero and Trident in exchange for their investments in Janani Infrastructure, another the company owned by Mr Jagan Mohan Reddy. IAS officer B.P. Acharya, Hetero director M. Srinivas Reddy and Nityananda Reddy of Aurobindo were also chargedsheeted.

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