CBI grills BCCI president in Jaganmohan case

BCCI president N Srinivasan on Monday appeared before the CBI in connection with the YSRC president Y S Jaganmohan Reddy’s disproportionate assets case and was quizzed by agency for over six hours.

The questioning focused on his investments  in Jagan’s companies, to the tune of Rs 60 crore, allegedly in return for the grant of lime stone mine land leases and also allocation of  water  from Telugu Ganga project for its cement company operations in  Andhra Pradesh.

The CBI summoned Srinivasan after it grilled Andhra Pradesh IT Minister (Major Irrigation Minister in YSR's Cabinet) Ponnala Lakshmaiah last week for his alleged violation of rules for allotting river waters to a host of companies including India Cements, who in Jaga’s firms.

Besides Lakshmaiah, the CBI also questioned senior IAS officer and then principal irrigation secretary Adityanath  Das  for issuing 10 controversial government orders (GOs) in favour of three cement firms. Two GOs pertained to release of water to India Cements.

In stages, India Cements invested Rs 60 cr in Jagathi Publications, Bharati Cements and other firms of Jagan. The investments were clearly reflected in the company's 2010-11 annual report, say market analysts.

India Cements was allotted 13 million cubic feet water from Kagna river near Ranga Reddy for a plant and another 20 million cubic feet of water from Krishna river in Nalgonda district for a plant at Vazirabad. The allocation of water has helped the company almost double its production.

The CBI is likely to quizz owners of the Penna cements, Dalmia cements, Ramky technologies etc,  identified as beneficiaries of  YSR  government’s largesse.