Kadapa MP and YSR Congress president YSR Jagan Mohan Reddy, who is currently being probed by the CBI for alleged ammassing of wealth, is said to be having huge investments in several hydropower projects being developed in Sikkim. These investestments are said to have been made in third party names.

This has come in to light with Anand Lama, an RTI acivist from Gangtok, filing a PIL against alleged financial irregularities in the hydropower projects being implemented in Sikkim. In the said PIL and subsequent investigation by the advocates of Anand Lama, it was evealed that the 1200 mw Teesta Stage III hydropower project (one of the largest private hydropower projects in the country) coming up at Chungthang in North Sikkim and 99 mw Panan hydel project in the Lepcha reseve of Dzongu promoted by Teesta Urja Ltd. and Himurja Infra P. Ltd., has funding and major shareholding by Jagan Mohan Reddy.

As Sikkim comes under Kolkata zone of the CBI, the CBI headquarters at New Delhi has directed the complainant Lama to mark a copy of the complaint also to Kolkata zone. However, the CBI Hyderabad zone too got informed about it and the joint director V V Laxminarayana wrote to Anand Lama to furnish all the details he has with him pertaining to the case. It is said that the Hyderabad CBI has received details from Anand Lama and preparing the case. Joint director V V Laxminarayana has confirmed it and said that a team of  officers have been entrusted with making preparations for the investigation very soon. It is said also that the said investments by Jagan range between 200 to 500 crores.