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Rediff.com  » News » CBI grills Jagan aide Vijay Sai Reddy on financial dealings

CBI grills Jagan aide Vijay Sai Reddy on financial dealings

Last updated on: January 5, 2012 20:53 IST

CBI grills Jagan aide Vijay Sai Reddy on financial dealings

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Mohammed Siddique in Hyderabad

Vijay Sai Reddy is facing serious charges, which include cheating and money laundering. Mohammed Siddique reports.

Vijay Sai Reddy, the vice chairman of Jagati Publications, owned by YSR Congress chief Jaganmohan Reddy, was sent to jail after the completion of the first day of questioning in Central Bureau of Investigation custody.

Vijay Sai, who is accused number two in the disproportionate assets case against Jaganmohan Reddy, was brought to the CBI's camp office at Dilkusha Guest House from Chanchalguda jail on Thursday morning.

Two counsels of Reddy were present when he was grilled by CBI officers on financial transaction of Jaganmohan Reddy and his companies.

Vijay Sai Reddy, who is facing serious charges, including cheating and money laundering, was remanded to CBI custody by the local CBI court for five days with the condition that he will be sent back to jail every night.

The long list of charges the CBI has submitted before the court include forcing a Chennai based industrialist to transfer his four companies to Jaganmohan Reddy's wife Bharati.

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Image: Vijay Sai Reddy was arrested in connection with the illegal assets case against YSR Congress party chief Jaganmohan Reddy
Photographs: SnapsIndia

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16 IAS officers named in CBI FIR

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The CBI has claimed that Vijay Sai Reddy played a vital role in getting India Cements to invest Rs 140 crore in Jagati Publications as a quid pro quo in exchange of allocation of water for its plant in Ranga Reddy district by the then YSR government.

Before becoming the vice chairman of Jagati Publications, which publishes the Telugu daily 'Sakshi', Vijay Sai Reddy was the auditor for Jaganmohan Reddy's companies and the YSR family.

CBI says that the questioning of Vijay Sai Reddy was necessary because he was in possession of vital information about the financial dealings and transactions of companies owned by Jagan.

The CBI has included the name of 70 persons in its FIR but has not revealed all the names. The CBI has said that the list includes 16 IAS officers who had played an important role in several decisions when Y S Rajasekhara Reddy was chief minister of Andhra Pradesh, which benefited Jagan's companies.

Vijay Sai Reddy also filed another petition in the court on Thursday seeking the status of a special under trial prisoner in the jail. The court has asked the CBI to file its counter against the petition.

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Image: YSR Congress President Jaganmohan Reddy
Photographs: SnapsIndia

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HC cancels IAS officer Srilakshmi's bail

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Meanwhile, in the case of illegal iron ore mining by Obulapuram Mining company of former Karnataka minister Gali Janardhan Reddy, CBI on Thursday filed a supplementary charge sheet in the CBI court including the name of senior IAS officer Srilakshmi as an accused.

Srilakshmi, who had signed the government order allotting the land for excavation of iron ore in Anantapur district to OMC during YSR regime, was arrested by the CBI but was released on bail by the court.

Now the high court has cancelled her bail and asked Srilakshmi to surrender before January 6. The IAS officer has challenged the high court orders in the Supreme Court.

 


Image: IAS officer Srilakshmi


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