Jagan case: CBI continues searches on third day

Jagan case: CBI continues searches on third day

He did not, however, revealed if any arrests were in the offing.
The agency, which is investigating the investments by various firms into the businesses of Jaganmohan Reddy during his father's tenure as Chief Minister, and the "irregularities" in APIIC-Emaar Properties land deal, continued the searches on the third consecutive day today.

CBI Joint Director (Hyderabad Zone) V V Laxmi Narayana told reporters that "scrutiny of documents (including bank documents relating to Jagan's assets) seized during searches at various locations in Andhra Pradesh and other states is going on....further course of action would be decided once the scrutiny is over".

However, when asked if any arrests were imminent, the Joint Director refused to give a direct reply, saying "if any major development takes place we will inform you".

The searches in Bangalore were almost over, while here they may continue for the next few days, he said. CBI officials were carrying out searches at four places in Hyderabad today.

Reacting to the query whether the agency was probing the APIIC-Emaar land deal case from its beginning in 2005, Laxmi Narayana said, "We are looking at it as a total project from its inception, and not as a (particular) period."

On August 17, CBI registered a case against Jagan, the son of former Andhra Pradesh Chief Minister, late Y S Rajasekhara Reddy, on the instructions of Andhra Pradesh High Court for IPC offences such as cheating, criminal conspiracy, criminal breach of trust, and under the Prevention of Corruption Act.

In the FIR, CBI has accused Jaganmohan of "conspiring" with his father and other individuals and companies to "cheat the government of Andhra Pradesh in the matter of granting certain favours to many companies".

The 28-page FIR lists Jagan, now the president of YSR Congress, as the number one accused, followed by V Vijay Sai Reddy, vice-chairman of Jagati Publications. In all, the FIR names 72 companies and individuals besides directors, promoters of unknown companies, unknown public servants of the state government and "unknown others" as the accused.

In the case related to the Emaar deal, CBI has alleged that B P Acharya, senior IAS officer and former Chairman and Managing Director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC), who is now the state's Principal Secretary (Home), entered into a criminal conspiracy with officials of Emaar Group and unknown public servants to cheat APIIC, to secure a wrongful gain to Emaar.

CBI has conducted extensive searches at the residence of Acharya and the office of Emaar here. 

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