Ex-BCCI chief Srinivasan named in charge sheet

India cements chief N Srinivasan, who stepped aside as the chief of BCCI board a few months ago, has been named in one of three new charge sheets filed by the CBI in a special court here on Tuesday.

The charge sheets have been filed against three companies – India Cements, which is promoted by Srinivasan, Penna Cements and Bharathi Cements.

After keeping YSRC president and Kadapa MP Y S Jaganmohan Reddy in jail for illegal assets, the CBI has finally agreed not to oppose his bail petition. The investigative agency alleges that India Cements invested up to Rs 140 crore in Jagan Reddy's companies as quid pro quo for the allotment of water to its plants in Nalgonda and Tandur, when his father YSR Reddy was chief minister of Andhra Pradesh.

India Cements is already listed as an accused in a First Information Report filed in 2011 and Srinivasan has been interrogated twice by the CBI in the case.

The CBI also filed a charge sheet against Penna Cements on Tuesday, a company formed in 1991, alleging that the firm invested Rs 68 crores in Jagathi Publications and Carmel Asia, owned by Jagan Reddy, for preferential land allotment.