June 18, 2012
Expanding its probe into the disproportionate assets against Jaganmohan Reddy, the Central Bureau of Investigation (CBI) questioned BCCI president N Srinivasan on Monday.
June 18, 2012
Expanding its probe into the disproportionate assets against Jaganmohan Reddy, the Central Bureau of Investigation (CBI) questioned BCCI president N Srinivasan on Monday.
The CBI would ask Srinivasan to explain the investments his company India Cements made in Jagan's firms, reports said. India Cements is one of the cement companies facing a CBI probe for making investments into Jagan's businesses in return for the benefits they received from the then government of YS Rajasekhara Reddy, Jagan's father.
India Cements allegedly pumped in money in Bharati Cements and Jagati Publications owned by Jagan and in return got benefits from the government in the form of water allocation for its units in Andhra Pradesh. The CBI believes the then government issued two orders allocating additional water from the Krishna and Kagna rivers to two plans of India Cements. The orders reportedly helped the company to double its production in the state.
CBI sources said the cement companies could be asked about water and limestone allocations made during the tenure of Rajashekhara Reddy as chief minister. The summons to Srinivasan and others were issued after CBI grilled Andhra Pradesh Information Technology Minister Ponnala Lakshmaiah with regard to the orders issued by him as the then irrigation minister allocating water to India Cements and other companies.
The CBI, in its three charge sheets filed against Jagan and others, has alleged that he and his father had hatched a conspiracy to defraud the government with Jagan influencing Rajasekhara Reddy in doling out certain favours to various investors, who made investments in Jagan's businesses. Jagan is currently in judicial custody since June 11 and has been questioned by the CBI.
Courtesy: i4u
