No funds during my tenure: Vijay Sai Reddy

Jagati Publications’ vice-chairman V. Vijay Sai Reddy on Monday told the CBI court that Jagati Publications did not receive any investments from outside during his seven- month tenure as director of the board.

Mr Sai Reddy made the submission in his second bail petition moved in court on Monday.

He made the submission to refute the CBI’s allegation that he facilitated Kadapa MP Y.S. Jagan Mohan Reddy to reap undue benefits in the form of investments in his firms from beneficiaries as quid pro quo. He was director on the board of Jagati Publi-cations from November 14, 2006 to June 21, 2007.

“During my seven-month term, not a single investment came from outside shareholder groups and hence the allegation can’t be attributed to me. The first investment from outside came on August 9, 2007, that is, after my resignation,” Mr Vijay Sai Reddy said. He maintained that all the allegations levelled against him in the chargesheet are absolutely false and incorrect.

“I have not committed any offence as alleged in the chargesheet and all the allegations are based on assumptions and presumptions,” the petitioner said, and maintained that he was falsely implicated in the case just because he happened to be financial adviser to Mr Jagan Mohan Reddy.

He maintained that except for his role as professional chartered accountant and financial advisor, he didn’t play any role in Mr Jagan Mohan Reddy’s group of companies.

“He has cooperated with the investigation agency by attending to them on 30 occasions and was interrogated at length for over 300 hours,” the counsel for the petitioner said, adding that there is no likelihood of the petitioner interfering with the investigation agency and no purpose would be served by putting him behind bars either.

Post new comment

<form action="/comment/reply/139688" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-9f69f25a604ddfa71883f9fbf8b863de" value="form-9f69f25a604ddfa71883f9fbf8b863de" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="85713189" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.