jagan mohan reddy cbi case

CBI Report Unfolds Jagan Bogus Companies

During its recent raids on the business premises of YS Jagan Mohan Reddy and those of his investors, the CBI has unearthed many bogus companies, which have invested in Jagan Mohan Reddy's enterprises. The CBI has now concluded that these companies were 'paper companies' just created for funneling investments. According to CBI sources, the address of Artilligence Bio Innovations Limited, Kirti Electronic Systems Pvt. Limited, Stocknet International Limited, Bay Inland Finance Pvt. Limited, New Outlook Securities Limited and Shakti Ispat Products Pvt. Limited are same. They are officially located at Suit No.5,6 and Flat No.202, Nityananda Nagar, Bakultolia, Howrah. When CBI officials launched searches, they found that there was no company operating from that address. Local inquiries revealed that no such companies ever existed at that address. So, CBI was forced to conclude that these companies are bogus, an official said. The addresses of Delton Exim Pvt Limited, Bhasker Fund Management Limited, Gromoor Fund Management Co.Limited was also listed to be the same: 48/A, Block C, New Alipore, Kolkata -53. Not surprisingly when CBI sleuths visited the place, there were no such companies existing at that location. Cliftons Pearson Exports and Agencies Limited, Ganga Builders Pvt. Limited, Super Finance Limited and Shivalakshmi Exports Limited were also found to have listed their address at 102, Stephen House, 4 BBD Bag (E), Kolkata – 01. When CBI tried to contact the companies and their owners, it found that only one person sitting at the said premises. Further investigations by the CBI revealed that Jagan firms Artilligence Bio Innovations Limited, Kirti Electronic Systems Pvt. Limited, Stocknet International Limited, Bay Inland Finance Pvt. Limited, New Outlook Securities Limited and Shakti Ispat Products Pvt. Limited have no offices of their own. It was found that with the permission of the owner of the premises, these 'paper' companies used them as their address. But they had no office there. Notices sent by CBI to these companies during preliminary inquiry were not answered, said sources in the CBI. With regard to Hingora Finvest Pvt.Limited whose address is listed as Shivaji Raje Scheme, B-10/14, Mhada, 101, Ekta Nagar, Malad West, Mumbai – 400062 there was more confusion. There is no premises that matching with the given address. When officials tried and contacted residents in the neighbourhood, they were equally flummoxed. For Moon Enterprise Pvt. Limited, the address was given as 443, 4th floor, Kiran Kung, Tank Road, Malad (W) Mumbai -400064. During the investigation, it was found that one Pradip Parikh was living at that address with his wife and two daughters, in a 540 square feet flat. Parikh told officials that his company had no investment in Jagati publications and expressed his ignorance about existence of Moon Enterprise. 'There are dozens of companies without any credentials or address. But all of them invested crores of rupees in Jagati Publications," said CBI sources. In case of the two companies based in Hyderabad, Eres Project Pvt.Limited and TWC Infrastructure Pvt. Limited, letters sent to these address were returned unserved. Two promoters of Eres Projects Company: E Rajasekhar Reddy and E Srinivasa Reddy issued a cheque on A/c no. 008010200058362 of Axis Bank for Rs 8 crore. But the amount was actually transferred from Ramky Estates and Farms Pvt. Limited a company promoted by Ayodhya Rami Reddy who executed several municipal and infrastructure projects during the YSR regime. "When the Axis Bank cheque was issued, the Eres project company's bank balance was Rs 5031 and after the transaction, it was Rs 4536.80 and during 2007-08 the company had not earned any income," said sources. With regard to TWC Infrastructure Pvt Limited, two persons who claimed to be the directors of the company has issued Axis Bank cheque under the account No.008010200058371 for Rs 2 crore to Jagati Publications on December 31, 2007. The funds sourced from transfer of funds on the same day from Ramky group of companies and after the cheque realized, the bank balance of TWC Infrastructure was Rs. Nil! Only three transactions were done by TWC Infrastructure during its entire bank operation and the majority of funds are from Ramky Group of companies. "More names are likely to be added in the FIR. We have submitted a report on the searches to the CBI special court," said VV Laxminarayana, CBI joint director.  

jagan cbi case

Jagan, EMAAR Case: CBI Tells Banks to Freez Accounts

The Central Bureau of Investigation after its extensives raids on YS Jagan Mohan Reddy owned companies and also that of his investors, has identified 25 Bank accounts. As per the agency, these bank accounts belong to the various alleged beneficiaries including Y S Jaganmohan Reddy. The CBI is said to have written to the banks including HDFC and ICICI requesting them to freeze all transactions with immediate effect. Highly placed CBI sources said the letter to the banks clearly instructs them to halt all the transactions until further notice from the investigating agency. "We want to verify whether there were any fraudulent transactions and to halt the possibility of withdrawal of funds from these accounts. The CBI has drafted in experts from the banking sector to decipher these identified accounts over the next few days," said the sources. The sources also indicated that most likely the accused - Jaganmohan Reddy, Vijay Sai Reddy, Nimmagadda Prasad and B P Acharya will be summoned to appear before the CBI and answer to the charges that have been slapped against them. However, the sources didn't confirm about planning any arrests in the next few days. Confirming that the searches and seizures on the various individuals and entities figuring in the list of accused in the two cases have yielded crucial information, the CBI official said more names would be included in the FIR after the searches are completed in another 2-3 days. These could include directors of some more companies as well as those politicians and IAS officers who did not figure in the petition on which the AP High Court ordered the probe, but whom the CBI thinks could be involved in the two scams. With CBI filing its FIR, which is a prerequisite for ED, now it is the turn of the Enforcement Directorate and book the accused in the two cases under the Prevention of Money Laundering Act (PMLA) 2005.

jagan cbi case

Jagan Loyalists in Cong, TDP, PRP Resign En masse

On the very day when 17 MLAs of PRP joined Congress finalizing the PRP-Cong merger, twenty six of its MLAs have resigned from the Andhra Pradesh Assembly over the investigation against Jagan Mohan Reddy. With this the state Congress unit got in to yet another crisis since the en masse resignation of its MLAs from the Telangana region. Though the Congress still holds a majority in the House which has 294 seats, the revolt will certainly affect party morale and fuel the notion that Jagan Mohan exerts significant pull over its partymen in his home state. Apart from 26 Congress MLAs, two legislators of the Telugu Desam Party (TDP) and one of Praja Rajyam Party (PRP) have also resigned taking the total number of resignations to 29. The reason that has fuelled the en masse resignation is the fact that Jagan's father, popular Congress leader YSR Reddy, has been named in the formal complaint filed against Jagan by the CBI. The investigating agency is trying to prove that when YSR was Chief Minister, he used public offices to favour companies who thanked him by investing in Jagan's companies at massive premiums. List of the members resigned: Congress MPs — Mekapati Rajmohan Reddy and Sabbam Hari, the Congress MLAs— Adinarayana Reddy (Jammalamadugu), Alla Nani (Eluru), Amarmnath Reddy (Rajampet), Gurnath Reddy (Anantapur), Balineni Srinivas Reddy (Ongole), Pilli Subhash Chandra Bose (Ramachandrapuram), Siva Prasad Reddy (Darsi), Dharmana Krishnadas (Narasannapet), Srinivasulu (Railway Koduru), Babu Rao (Payakaraopet), Katasani Rambhoopal Reddy (Panyam), Srikanth Reddy (Rayachoti), P Balaraju (Polavaram), D Chandrashekar Reddy (Kakinada), Mekapati Chandramohan Reddy (Udayagiri), M Prasad (Narsapuram), K Chennakeshava Reddy (Yemmiganur), N Sesha Reddy (Anaparthi), Ramakrishna Reddy, Dr Ravi (Puthalapattu), Konda Surekha (Parakal), Jayasudha (Secunderabad), Kunja Sathyavathi (Bhadrachalam), Sucharitha Reddy, Korla Bharathi (Tekkali), Y S. Vijayamma (Pulivendula), Kapu Ramachandra Reddy (Rayadurgam), Shobha Nagireddy (PRP-Nandyal), Nallapureddy Prasanna Kumar Reddy (TDP-Kovvuru) and Y Balanagi Reddy (TDP-Mantralayam).  

jagan mohan reddy

Cong MLAs Threaten to Quit in Jagan Support

Kicking off yet another crisis for the Kiran Kumar Reddy government in AP, about two dozen MLAs of the party, who are now sailing with YSR Congress chief YS Jaganmohan Reddy, are planning to resign from their posts protesting the CBI raids on Jagan Mohan Reddy and others. 14 MLAs and an MLC held an emergency meeting at Jagan's residence in Hyderabad on Friday to discuss their plan of action. even as they lashed out at the state and Central governments over the manner in which the MP was being targeted in a "political witch-hunt". "We are ready to resign from our posts if the situation arises," the MLAs announced at the end of the meeting even as Jagan, who was on a tour of Krishna district, spoke to them over phone and reportedly asked them to "be prepared". Apart from the 24 Congress MLAs who are planning to quit, the Jagan camp is said to be trying to enlist support of some more MLAs from the Congress to push the Kiran Kumar Reddy government into a deeper crisis. The government is already beleaguered over the Telangana issue with 15 MLAs from the region submitting their resignations for the second time while 12 ministers continue to remain undecided over their plight. It may be recalled that Assembly Speaker Nadendla Manohar rejected resignations of 101 MLAs, including those of 12 ministers, when they were submitted last month. But, the sudden developments related to Jagan have prompted the ruling party MLAs on his side to up the ante and unsettle the Congress government. The Jagan-loyal MLAs have decided to undertake a bus yatra in different parts of the state soon to "expose the nefarious political conspiracy" of the Congress in unleashing the CBI against him.  

ys jagan mohan reddy

CBI-FIR Against Jagan Mohan Reddy

The Central Bureau of Investigation, which is conducting raids on the bussiness establishments of Kadapa MP YS Jagan Mohan Reddy and others based on a directive of the Andhra Pradesh High Court, has filed a 28- page FIR in the case. The FIR listed Jagan as number one accused followed by V Vijay Sai Reddy, vice-chairman of Jagati Publications. In all, the FIR named 72 companies and individuals besides directors, promoters of unknown companies, unknown public servants of the state government and "unknown others" as accused in the case under IPC Sections 120 (B) read with 420, 409, 420 and 477 (A). The FIR filed by the CBI alleges that Jagan Mohan Reddy conspired with his father late YS Rajasekhara Reddy and other individuals and companies to "cheat the government of Andhra Pradesh in the matter of granting certain favours". It also alleges that Jagan exercised influence on YSR and other government officials, who issued orders favourable to many companies and that rules were flouted to allot licences for ports, SEZs in return of huge sums of money during 2004-2009. The CBI further charged that Jagan "exercised his influence on his (late) father, then chief minister, and also "unknown public servants" of the state government, who in turn abused their official positions by corrupt or illegal means and issued orders favourable to many companies. The charges relate to criminal conspiracy, cheating, criminal breach of trust, falsification of accounts and criminal misconduct, according to the FIR. "As a quid pro quo, those companies, other unknown companies and unknown persons invested several crores of rupees in Jagati Publications, Sandur Power Company Limited, Carmel Asia Holdings, Bharathi Cement Corporation Ltd and other companies promoted by Jaganmohan Reddy at a huge premium," the CBI FIR said.  

CBI Raids Jagan  Mohan Reddy Companies

CBI Begins Raids in Jagan Mohan Reddy's Companies

The Central Bureau of Investigation, which has reportedly issued FIRs against the Kadapa MP, Mr Y.S. Jagan Mohan Reddy, his investors and former top bureaucrats involved in the case and the Emaar scam, started investigations in earnest on Wednesday.The CBI joint director, Mr V. Lakshminarayana, spent more than two hours in the courts with a judge and indications are that an FIR has been issued against Mr Jagan Mohan Reddy and others for misappropriation and criminal conspiracy under the Money Laundering Act and the Prevention of Corruption Act.   The YSR Congress chief’s houses in the city and in Bengaluru and the offices of Jagati Publications Limited including Sakshi media offices, and offices of other companies owned by him as well as that of Mr Nimmagadda Prasad and of around 30 companies are likely to be searched, said sources.The CBI has received permission to search 91 places for both cases involving Mr Jagan Mohan Reddy’s illegal assets and the Emaar scam.In Mr Jagan Mohan Reddy’s case, 52 accused have been named while 17 accused have been named in the Emaar case. Emaar MGF, Emaar Properties Limited PJSC, Emaar Hills Township Private Limited, Stylish Homes Private Limited have also been named in the case. Meanwhile, teams including officials from Visakhapatnam and Bengaluru congregated at the Dilkhusha Guest House in the city on Wednesday and were briefed by the CBI top cops regarding their part in the probe.Sources said that the blistering pace of the CBI probe indicated that the key accused in the Emaar and Jagan cases might be arrested as soon as material evidence was found against them. An FIR has also reportedly been issued in the Emaar case against former APIIC officials and Emaar authorities and beneficiaries.“When it happens we will let you know through a press release,” said a tight-lipped Mr Lakshminarayana. CBI also did not officially confirm the searches. It is not known whether YSR has been named an accused or not. Sources, however, pointed out that a case could be made out only if he was named an accused.Mr Jagan Mohan Reddy has already moved the Supreme Court for a stay order in the probe.             CBI Begins Raids in Jagan Mohan Reddy's Companies                   CBI Begins Raids in Jagan Mohan Reddy's Companies   

telangana agitation go 177

HC Sets GO 177 Operational

The Andhra Pradesh High Court asked the state government on Tuesday its reasons for not invoking the National Security Act against political parties responsible for calling frequent bandhs and strikes, which were causing tremendous hardships to the public in general and students in particular. The court suspended the operation of a Government Order which had kept GO 177 (that provides for stringent action against striking employees) in abeyance. This means, GO 177 becomes operational with immediate effect. A division Bench comprising Chief Justice Nisar Ahmad Kakru and Justice Vilas V. Afzulpurkar was dealing with six separate petitions challenging the inaction of the government in preventing the frequent agitations and for paying salaries to employees of the Telangana region who had participated in the non-cooperation movement. The Bench was also dealing with petitions challenging the state's inaction in recovering damages caused to public properties during bandhs and agitations from the political parties. On April 13, the government had issued GO 177 to initiate action on employees who had taken part in the pen-down strike and the non-cooperation movement in February this year. However, five days later, it had issued another GO keeping the earlier one in abeyance following protests from Telangana agitators. The Bench granted five weeks to the state to respond on the issues and also to file counter arguments regarding not taking action against the employees who participated in the non–cooperation motion.

TRS Over-drama Marred Independence Day Celebrations

TRS activists seem to have overdone their drama on the eve of Independence day trying to disrupt the Official celebration. Our politico's seem to have forgotten that national importance attached to this day in the history of our freedom struggle. Police arrested leaders and activists of TRS in Warangal as they were reportedly planning to disrupt the Independence day celebrations. Another rebel TDP legislator Jogu Ramanna was arrested by the police when he tried to disrupt the main official function being attended by state Minister Basvaraj Saraiah in Adilabad town. Telangana had its echo in the Independence Day celebrations in Andhra Pradesh, with groups fighting for a separate Telangana state hoisting Telangana flags along with the national flag. At some places, they also tried to disrupt the official functions. The Telangana Joint Action Committee (JAC) had asked the ministers of the Congress party not to boycott the official functions. Congress MP from Vijayawada Lagadapati. Rajagopal said hoisting of another flag with the national flag was unconstitutional and amounted to insulting the tricolour."There is only one flag for the entire country. No state has a flag of its own," the MP from Vijayawada said. He alleged that TRS was trying to stoke separatist feelings among the people of Telangana Rebel legislator of Telugu Desam Party (TDP) Nagam Janardhan Reddy created a flutter at the state assembly when he raised slogan of "Jai Telangana" as assembly Speaker N. Manohar was hoisting the national flag.