The CBI told a special court hearing cases against Jagan Mohan Reddy that the MD of Sandur Power had stated that all other companies floated by the YSRC president were ‘fictitious.’
The CBI court was hearing arguments on petitions requesting it to recognise a person deputed by the company as its representative in the disproportion ate assets case of Jagan.
The petitions were filed by Jagati Publications, Raghuram Cements, Silicon Builders and Caramel Asia.
The CBI stated that during its investigation into the Sandur Power Company, its MD Gopala Krishna Murthy had stated that all companies excepting Sandur were ‘bogus’ and did not have ‘real employees’.
Submitting his statement as evidence, the CBI insisted that the companies were floated by Jagan to collect cash on a quid pro quo basis. Mr Jagan can’t avoid responsibility for the offences committed by his companies, apart from those committed by him, the CBI said. Investigation revealed that Jagati Publications, Carmel Asia Holdings and Silicon Builders were incorporated between 2004 to 2006 and Mr Reddy had played crucial roles in all of them.