CBI continues searches at firms linked to Jagan's businesses

Aug 19, 2011 |

Hyderabad

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Y S Jaganmohan Reddy

CBI today continued its search operations on premises of various firms that invested in business entities of YSR Congress chief Y S Jaganmohan Reddy and also in connection with "irregularities" in APIIC-Emaar Properties land deal for the second day across Andhra Pradesh.

Teams of the probe agency carried out searches in Pollepalli SEZ in Mahabubnagar district and sites in Khammam district as part of investigations into the case related to investments in business entities of Jagan.

Simultaneously searches were on at seven locations in Hyderabad in relation to the Emaar land deal, CBI officials said here. Among the premises where searches were conducted include Penna Cements, Aurobindo Pharma, Navbharat Ventures and Hetero Drugs, they said.

"The searches are continuing... we have collected documents as part of investigations," CBI Joint Director V.V. Laxmi Narayana told the media.

The agency had yesterday started searches at various premises of Jagan and firms which invested in his businesses following charges that investments made in his companies were 'quid pro quo' for favours doled out by his father Y.S. Rajasekhara Reddy, when he was the chief minister.

The searches were yesterday conducted at Hyderabad, Bangalore, Chennai, Kolkata, Rajkot, Delhi and Mumbai. CBI on August 17 registered a case against Jagan, the Lok Sabha MP from Kadapa, on the instructions of Andhra Pradesh High Court under IPC sections pertaining to cheating, criminal conspiracy, criminal breach of trust and also Prevention of Corruption Act.

The CBI had also registered a case against Emmar-MGF, its sister concerns and others on the allegations that favours were granted to the realty firm by the officials under the Rajasekhara Reddy government in the execution of a posh real estate project at Manikonda here.

CBI officials had yesterday searched the residence of Principal Secretary (Home) B P Acharya, then MD of Andhra Pradesh Industrial Infrastructure Corp with him Emmar-MGF had entered into a deal.

The agency registered the case against the real estate developer on the instructions of the high court under relevant sections of IPC and Prevention of Corruption Act.

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