CBI seeks 14-day custody of Jagan in DA case

CBI counsel alleges Jagan sent (bribe amount) abroad and got it reinvested in his business through hawala racket

PTI | May 28, 2012



The CBI on Monday sought 14 days custody of Kadapa MP Jagan Mohan Reddy, saying it needed to further question him in the disproportionate assets case. 39-year-old Jagan, who was arrested on Sunday, was produced before a CBI court here.

Seeking 14 days police remand, senior CBI counsel Ashok Bhan alleged that YSR Congress chief Jagan Mohan Reddy "sent (bribe amount) abroad and got it reinvested in his business through hawala racket".

"Jagan never cooperated in the investigation during the three-day questioning period in true sense," the CBI counsel alleged.

"Jagan can no longer masquerade as a victim of CBI probe. He cannot assail CBI for being victimised. He has hoodwinked the people of a huge sum of money. We will now show the people about his swindling of money. He cannot seek public sympathy He has deprived poor people and caused them irreparable loss and in turn enriched himself by dubious mechanism by sending the funds abroad and getting the same invested in his companies," the counsel alleged.

CBI has charged Jagan under Sections 120-B (criminal conspiracy), 420 (cheating), 409 (criminal breach of trust) and 477A (falsification of accounts) of the Indian Penal Code and Section 13 of the Prevention of Corruption Act.

"Investments to the tune of Rs 1234 crore have been made in his (Jagan's) companies and he himself got enriched by Rs 300 crore. There are certain traces and he did not cooperate on the same," Bhan alleged.

"It is a white collar crime committed by 74 accused, including Jagan, and so far charge sheets have been filed against 24 accused. All the accused in custody (industrialist N Prasad, senior bureaucrat K V Brahmananda Reddy) have revealed certain glaring facts about the case and we have to confront Jagan on the information provided," the CBI counsel claimed.

CBI has sent Letters Rogatory to Mauritius and Luxembourg to get more information as there were alleged investments to the tune of several crores in Sandur Power by Jagan.

"Luxembourg-based Asian Infra is suspected owner of Sandur Power," the agency submitted.

There are similar transactions in the "exclusive knowledge" of Jagan which will be known only after getting his custody, the CBI counsel said

"Jagan got enriched enormously in a short span of four years after influencing his father Rajashekhar Reddy, the then Chief Minister of Andhra Pradesh in getting ill gotten money into his own firms from investors who doled out favours as part of quid pro quo," the counsel alleged.

"Some investing companies got alloted thousands of acres of agriculture land in turn of investments after Jagan influenced his father," the agency further alleged.

Further investigations need to be carried out on the role of Jagan with regard to the influence made on his father, the agency said.

 

Comments

 

Other News

Tier-2 cities lead India’s digital credit push

Digital payments have become a reflex for urban India, but the confidence earned in paying has not yet carried over to borrowing. That is the central finding of `How Urban India Pays Report 2026`, released by Pahlé India Foundation in collaboration with Amazon Pay. Based on a survey of 5,149 consu

India calls for doubling bilateral trade with UK by 2030

Commerce and industry minister Piyush Goyal has called upon businesses in India and the United Kingdom to translate the opportunities created by the India-UK Comprehensive Economic and Trade Agreement (CETA) into expanded trade, investment, partnerships and job creation. Addressing the Bu

Gandhian movement after Gandhi failed: Ram Guha

The Gandhian movement in India, after Gandhi’s death, failed, says Ramachandra Guha, and blames Vinoba Bhave for it. But the movement found new, fertile grounds around the world and succeeded in bringing about a change in South Africa, the US and elsewhere. It is high time it returned home. Of cour

When religion, politics and Bollywood come together

Tavleen Singh, noted journalist and political commentator, has turned to fiction, with her debut novel ‘The Actor’ (HaperCollins India). Set in the near future, it has a superstar, Amit Singh, turning to politics, when the political landscape is dominated by prime minister Guru Gaynendraj

Cabinet approves setting up of Integrated Transport & Logistics Authority

The union cabinet, chaired by prime minister Narendra Modi, on Tuesday approved the setting up of a Special Purpose Vehicle (SPV), called Integrated Transport & Logistics Authority (ITLA), to strengthen research, planning, appraisal, monitoring and impact assessment within the broad domains of Transp

Why foundational literacy and numeracy is key to school education

Foundational Literacy and Numeracy (FLN) are often described as the building blocks of education. Yet, their significance goes well beyond a child’s ability to read a sentence, write a response or solve a basic mathematical problem. These foundational skills shape how children understand the world,

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter