For the third consecutive day on Saturday, the Central Bureau of Investigation (CBI) conducted searches at three places here in Andhra Pradesh as part of the investigations against MP Y.S. Jaganmohan Reddy and infrastructure developer Emaar Properties.

CBI was trying to gather evidence in both the cases, said V.V. Lakshminarayana, joint director of the federal agency.

The CBI teams conducted searches at the offices of Ramky Group, Alpha Group of companies and the residence of businessman A.K. Dandamudi. The officers reportedly seized some documents.

The cases are being probed on the direction of the Andhra Pradesh High Court.

The searches are likely to continue for some more days. Lakshminarayana personally oversaw the searches at Ramky's office.

Jagan, as the MP from Kadapa is popularly known, allegedly amassed illegal assets when his father Y.S. Rajasekhara Reddy was chief minister of the state.

There are allegations against Emaar Properties that it defrauded the state government in development of a township here in connivance with some officials.

The investigating officers are analyzing the bank accounts and financial transactions of the companies and individuals who made huge investments in Jagan's firms as a quid-pro-quo arrangement.

They allegedly invested in return for the favours they received from Jagan's father who served as the chief minister from 2004 to 2009.

The CBI has filed a First Information Report (FIR) against Jagan and 71 others including the companies owned by him and the investors in his companies.

They have been booked for cheating, criminal conspiracy, falsification of accounts under various sections of the Indian Penal Code and the Prevention of Corruption Act.

According to the FIR, Jagan conspired with his father and other individuals and companies to cheat the state government.

Jagan, who is also the president of YSR Congress party, has been accused of exercising his influence on his father and some public servants, who in turn issued orders favourable to many companies.

The companies, which received government's largesse, allegedly made huge investments in Jagan's firms including Jagathi Publications, Indira Television, Sandur Power and Bharati Cements. The FIR also said that the investments in Jagan's firms were also routed through benami or fictitious companies.

In the Emaar case, the CBI has filed an FIR against Emaar Properties PJSC, Emaar Hills Township Pvt Ltd, Emaar MGF Land Pvt Ltd, Stylish Homes Pvt Ltd, Indian Administrative Service (IAS) official B.P. Acharya and other unknown public servants.

Acharya, who was then the managing director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) allegedly abused his position to benefit Emaar Properties even as it diluted the equity of APIIC in the joint venture and roped in another company, causing huge losses to the state exchequer.

The high court ordered a CBI probe into both the cases on the petitions filed by state textiles minister P. Shankar Rao and some leaders of the opposition Telugu Desam Party.

Jagan has termed the petitions as politically motivated and challenged the high court order in the Supreme Court.