[1]The third chargesheet in Kadapa MP Y.S. Jagan Mohan Reddy’s illegal assets case states that the then chief minister Y.S. Rajasekhar Reddy had prevailed upon IAS officer G. Venkat Rami Reddy to help Ramky Pharma City, in lieu of which Ramky’s chairman Ayodhya Rami Reddy had invested Rs 10 crore in Jagati Publications.
YSR circumvented the guidelines of the Visakhapatnam Urban Development Authority to approve the layout of Ramky Pharma City, said the chargesheet that was filed on May 7. In return, Mr Ayodhya Rami Reddy had ensured investments of Rs 10 crore in Mr Jagan Mohan Reddy’s Jagati Publications.
The third chargesheet also accused Mr Jagan Mohan Reddy of conspiring with Mr Vijay Sai Reddy, Accused No. 2 in the case, to show inflated valuations. Investments were made at a high premium of Rs 350 per share using a valuation report by Deloitte Touche Tohmatsu as a tool though Jagati Publications was yet to commence operations and was running at a huge loss. The chargesheet accused Mr Jagan Mohan Reddy of concealing facts and playing a role in causing wrongful gain to Ramky Pharma City by prevailing upon his father, the CM.
Mr Jagan Mohan Reddy is also charged with abetting with YSR in showing undue favour to Mr Ayodhya Rami Reddy. The chargesheet states that Mr Jagan Mohan Reddy committed offences of criminal conspiracy, cheating and dishonestly inducing delivery of property, using forged documents, taking gratification, exercise of personal influence with public servants and abetment.
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[1] http://archive.asianage.com/ysrturban4jpgcropdisplayjpg-819