NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » News » CBI probing fund transfer charges against Jagan

CBI probing fund transfer charges against Jagan

April 08, 2012 19:18 IST

After filing a chargesheet against Y S Jagan Mohan Reddy for alleged abuse of his official position, the Central Bureau of Investigation has sent a request to various countries seeking their assistance in probing alleged transfer of funds by the son of former Andhra Pradesh Chief Minister, a charge denied by him.

The letter of request, sent through diplomatic channel, alleged that between 2004 and 2009 when Y S Rajashekar Reddy was the chief minister, his son Jagan and his family allegedly defrauded the public exchequer by way of obtaining several favours from the state government in matters related to issuance of licences and permissions.

Jagan and his family have also been charged in the letter with obtaining favours in matters related to allotment of lands for special economic zones and mining leases to companies which made huge investments in companies floated by younger Reddy at abnormally high rates of premium.

Denying all the charges, Reddy in a statement to PTI said, "All the investments into my companies have been of sound commerce and have always been complying with the law of the land. The companies, which invested into my companies, have also invested into other blue chip companies in the country."

"There has been no wrongdoing by Jagan Mohan Reddy. So there's nothing to be concerned about. We are sure he is going to come out clean in the end," a statement from  the party said and accused the CBI of working overtime with a single-minded agenda to implicate the Kadapa MP in some case or the other.

The Letters Rogatory sent under the signatures of the Special Judge of the CBI in Hyderabad has requested the British Virgin Island to ascertain the details of the owners and authorised signatories of and bank account details of a firm incorporated in that country besides ascertaining whether funds from companies based in Mauritius had been routed to India through there.

It also requests for ascertaining the genuineness of the shareholders of the firm and their relationship if any with Y S Rajshekar Reddy or Y S Jagan Mohan Reddy, it said.

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.