AP govt backs confiscation of Jagan's properties by CBI

AP govt backs confiscation of Jagan's properties by CBI

AP govt backs confiscation of Jagan's properties by CBI

In what could be described as an attempt to dent the money power of the YSR Congress party of  Kadapa MP Y S Jaganmohan Reddy  ahead of the June 12 by-elections, the AP government has supported the CBI move to confiscate his properties.

The state government has in principle endorsed the CBI request to attach and confiscate  the movable and immovable   properties of the Congress rebel to pre-empt his poll extravaganza, under the provisions of the Criminal Law Amendment Ordinance, 1944.

The Ordinance enables the state to attach the money or other property of any person which it or the Centre believes was procured by committing an offence. The CBI move came close  on heels of the agency   freezing  the bank accounts of Jagan’s  media companies - Sakshi Telugu paper and  Sakshi TV channel besides Janani infra  company.

The Kiran-led Congress government has also  issued an order banning on all government advertisements to the Sakshi  publications, apparently to stifle its  publicity strength.

“Government had released Rs 101 crore worth advertisements to Sakshi paper and channel  since its  inception in 2007-08',” says Information Commissioner R V Chandravadana Rao.

It may be recalled that in its ongoing investigation, the CBI has alleged that Rs 1,246 crore was invested by various companies in Jagan Mohan Reddy’s companies as a quid pro quo for benefits extended by then state government led by late  YSR as chief minister by way of either land or concessions.

A high voltage political developments has swept the state ever since the CBI  summoned  Jagan to appear in person in the CBI court on May 28th.