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CBI raids continue on second day

Hyderabad, Aug 19 (INN): The Central Bureau of Investigations continued the raids on companies and properties owned by Kadapa MP Jagan Mohan Reddy for the second consecutive day on Friday. The CBI also continued searching various premises in Emaar case.

According to sources, a 15-member team CBi searched the offices of Brahmani Infotech, Penna Cements, Nimmagadda Foundation, Aurobindo Pharma at Ameerpet, Vanpic at Banjara Hills and the RR Globals. The CBI is conducting searches in more than 10 cities across the country.

Following the directions of Andhra Pradesh High Court, the CBI had registered a case against Jagan Mohan Reddy and others and launched a full-fledged enquiry into his alleged illegal assets.

Textiles Minister Dr. P.Shankar Rao in his petition has alleged that the corporate entities and individuals who were allotted land for SEZs, mines and irrigation projects, pumped in kickbacks in the form of investments in Jagan's businesses including the two media outfits - a Telugu news daily and a TV channel.

A case of cheating and has criminal conspiracy has been booked against Jagan Mohan Reddy by the CBI. However, the CBI probe seems to have many surprises.

The CBI teams raided the company and residence premises of Lanco Group chief Lagadapati Sridhar, brother of Vijayawada Congress MP Lagadapati Rajagopal. The CBI has not yet clarified on whether Lanco raids are associated with Jagan or Emaar case.

The CBI has also raided the house and offices of Indu Projects chairman Shyam Prasad Reddy and Parthasarathy Reddy of Hetero Drugs. So far, the company premises of Dalmia Cements, India Cement, Penna Cement offices, Harish Commerce, PVP Ventures, Potluri Varaprasad Company, RR Global, Sandur Power Project, Spoom Solutions, Jubilee Media, Karmel Asia, Gilchrist Investments, Sandeep Labs and the Mantri Apartments on Vithal Mallya road in Bengaluru and other companies have ben searched.

The CBI is likely to submit an interim report on the outcome of searches on August 23 to the High Court. However, the CBI will seek more time to study the documents and computer hard-discs. Meanwhile, Jagan Mohan Reddy is likely to be arrested only after fresh directives by the court.

News Posted: 19 August, 2011
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