Sakshi bank accounts frozen
Hyderabad: Just a day after filing a third charge-sheet in the disproportionate assets case against YSR Congress chief Y S Jaganmohan Reddy, the Central Bureau of Investigation froze the bank accounts of the group companies owned by Jagan on Tuesday, a move Jaganmohan called undemocratic and accused the Congress of indulging in political vendetta.
The accounts that were frozen are those of Jagati Publications Private Limited, Indira Television Private Limited and Janani Infrastructure Private Limited.
These companies have their accounts with the State Bank of India (SBI) and the Oriental Bank of Commerce (OBC).
The companies owned by Jaganmohan Reddy are said to be having accounts in other banks like ICICI and HDFC also.
According to CBI sources, the accounts were frozen under Section 102 of the Criminal Procedure Code. Interestingly, the accounts were frozen a day after the CBI court issued summons to Jagan and 12 other accused listed in the charge-sheet filed on March 31.
Sources said the CBI has written letters to the banks concerned requesting them to freeze the accounts and not to allow any transactions in the accounts related to Jagati Publications, Indira Television and Janani Infra.
While there has been criticism that the CBI has not even issued notices to the companies before freezing the accounts, a CBI official said there is no need for issuing any notice.
It is well within the powers of the investigating officer to write to the banks asking seizure of bank accounts if it was prima facie established that the money transacted in the bank accounts was ill-gotten money.
Another official said that the investigating officer should inform the magistrate of the trial court after the accounts were frozen and there was no need either to take prior permission from the court or issue notices to the companies concerned.
A copy of the notice issued by the chief investigating officer H Venkatesh, addressed to the SBI's Banjara Hills branch manager, reads, 'During the course of investigation it has come to light that Jagathi Publications Limited, Janani Infrastructure Private Limited, Indira Television Limited, being represented by its director Y S Jaganmohan Reddy and others, have been maintaining accounts with your bank and parked the ill-gotten proceeds of crime received from various sources under the guise of funds for conducting business.
Therefore, by the powers conferred on me under Section 102 of the Code of Criminal Procedure, 1973, you are hereby instructed to cause the schedule mentioned accounts being maintained in your branch by Jagathi Publications Limited, Janani Infrastructure Private Limited and Indira Television Limited be freezed and prohibit all operations in the said accounts forthwith. Confirm the action taken at your end along with the amounts freezed, account wise, immediately.'
It may be recalled the CBI had filed the charge-sheet in Jagan's case on March 31 against 13 accused ' Y S Jaganmohan Reddy (A1); V Vijai Sai Reddy (A2), financial advisor for Jagan-owned companies; Aurobindo Group of Companies (A3); Hetero Drugs (A4); Trident Pharma (A5); M Srinivas Reddy, Director of Hetero Drugs (A6); K Nityananda Reddy, Managing Director of Aurobindo (A7); P Sharat Chandra Reddy, Managing Director of Trident (A8); B P Acharya, former Managing Director of Andhra Pradesh Industrial Infrastructure Corporation (A9); Y V Lakshmi Prasad, Patancheru Zonal Manager of APIIC (A10); Chandramouli, Company Secretary of Aurobindo (A11); Jagati Publications (A12) and Janani Infra (A13).
According to the charge-sheet, Jagan and Vijay Sai have got Jagathi Publications and Janani Infra valued higher than its actual worth by misleading Deloitte Touche Tohmatsu India Private Limited.
'The main objective of Jagan and Vijay Sai was to accept bribes as investments from the companies that benefited from the undue official favours doled out by the dispensation headed by the late Chief Minister Y S Rajasekhar Reddy.
Accordingly, they fixed a very high premium of Rs 350 per share without any basis, for the two companies. Vijay Sai in conspiracy with Jagan had also acted as an agent to solicit bribes in the form of investments from the companies and individuals who had received benefits from the Rajasekhara Reddy government, the charge-sheet said. It is also said that 13 companies had parked Rs 844 crore in these companies.
Subsequent to the first charge-sheet, the CBI had filed two more charge-sheets ' one on April 23 and the other on May 7 ' in the same case. The first three accused in all the charge-sheets happen to be Jagan, Vijay Sai and Jagathi Publications.
News Posted: 9 May, 2012
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