CBI books Jaganmohan Reddy

CBI books Jaganmohan Reddy

CBI books Jaganmohan Reddy

According to a statement released by the CBI, it has registered cases again Jaganmohan following the orders of the Andhra Pradesh High Court “on the allegation that the investors who invested in the companies owned and promoted by the MP at very high premiums were as a quid-pro-quo for the favours doled out by the then chief minister of Andhra Pradesh (Y S Rajasekhara Reddy)”.

Jaganmohan has been booked under section 120-B r/w 420, 409, 420, 477A and Sec 13(2) r/w 13(1)(c) & (d) of the IPC.

The agency has also registered cases against real estate firm Emaar, its sister concerns and others on the allegation of execution of a real estate project at Manikonda in Hyderabad with connivance of certain public servants of the AP government.

Earlier in the day, in one of the biggest operations, CBI sleuths conducted simultaneous searches at several places in various cities across the country in cases relating to alleged illegal assets of Jaganmohan and irregularities in Emaar township project.

According to sources in the agency, about 20 CBI teams held searches at several places in Delhi, Hyderabad, Bangalore, Chennai, Kolkata and Visakhapatnam.

Armed with search warrants from a special court, the agency officials started the searches at the residences of Jaganmohan, his sister Sharmila in Hyderabad, IAS officer B P Acharya, businessman Nimmagadda Prasad.

Offices of the companies owned by Jagan were also searched by the CBI sleuths along with the firms which have invested in his businesses. Searches were conducted by the CBY after it secured warrants on Wednesday to search 91 locations belonging to 32 corporates and individuals in both the cases.