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Rediff.com  » Business » CBI chargesheets India Cement MD in Jagan case

CBI chargesheets India Cement MD in Jagan case

September 11, 2013 10:55 IST

CBIThe Central Bureau of Investigation on Tuesday filed a chargesheet against India Cements Managing Director N Srinivasan in the alleged quid pro quo investment case involving jailed Kadapa (Andhra Pradesh) Member of Parliament Y S Jagan Mohan Reddy.

Srinivasan was accused of investing about Rs 140 crore (Rs 1.4 billion) in firms floated by Jagan Mohan Reddy in exchange for benefits to his company, in terms of water and land allocation by the state government.

Then, Jagan Mohan Reddy’s father, the late Y S Rajasekhara Reddy, was chief minister. CBI also filed two separate chargesheets against Andhra Pradesh-based Penna Cements and Raghuram Cements (now Bharathi Cement). While Penna Cements was owned by Penna Pratap Reddy, also named in the chargesheet, Bharathi Cement was promoted by Jagan Mohan Reddy.

The chargesheet involving India Cements also named two senior serving IAS officers -- special chief secretary (environment and forests), M Samuel, and principal secretary of the irrigation department, Adityanath Das.

So far, nine chargesheets (including those filed today), have been filed in the two-year-old investment case, in which Jagan Mohan Reddy was named the primary accused.

BS Reporter in New Delhi
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