The chargesheet filed by the CBI against YSR Congress chief Jagan Mohan Reddy says that former chief minister Y.S. Rajasekhara Reddy would have been tried under the Prevention of Corruption Act for helping Ramky Pharma City so as to get investments for his son’s companies. Charges against him are not preferred as he is dead.
The chargesheet says that on November 23, 2005, YSR held a meeting in which Ramky chairman Ayodhya Rami Reddy and then vice-chairman of the Visakhapatnam Urban Development Authority and currently collector, Srikakulam Mr G. Venkatram Reddytook part. The CM took a decision to reduce the green belt from 250 metres to 50 metres in violation of rules, enabling Ramky to get 58.9 acres of additional land. Mr Venkatram Reddy approved the layout of Ramky by reducing the green belt width to 50 metres.
The chargesheet goes on to say that the industries and commerce department in 2010 reimbursed the stamp duty and registration fees to Ramky Pharma City. In a quid pro quo, two companies owned by the Ramky group, ERES Projects and TWC Infrastructure, purchased 2,77,777 shares of Jagathi Publications at a premium of Rs 350 per share, amounting to Rs 9.99 crore.
CBI superintendent of police H. Venkatesh said Mr Jagan Mohan Reddy in conspiracy with Mr Vijay Sai Reddy had ensured causing of wrongful gain to Ramky by conspiring with his father. He said Mr Venkatram Reddy had abused his official position, and in criminal conspiracy with YSR and Mr Rami Reddy dishonestly approved the layout of the RPCIL in violation of rules and the VUDA masterplan.
He said RPCIL had obtained wrongful gain of 914 acres of land inside the Pharma City. By selling the land by dividing it into plots, RPCIL had obtained wrongful gain of Rs 133.74 crores.