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HC orders preliminary probe into Jagan’s assets

Posted by on July 12, 2011 0 Comment

Hyderabad: The Andhra Pradesh High Court on Tuesday directed the Central Bureau of Investigation (CBI) to launch a preliminary inquiry into the allegations that YSR Congress Party president YS Jaganmohan Reddy has illegally amassed huge wealth and laundered money.

A Division Bench of Chief Justice Nisar Ahmed Kakru and Justice Vilas V Afzalpurkar, gave the CBI two weeks to complete the preliminary inquiry and submit its report. The report will have to be submitted in a sealed cover.

“The probe should be conducted by the CBI director or a special officer appointed by the CBI,” the Court ruled. “Prima facie, an inquiry is necessary to clear the doubts,” the Court said.

A final hearing in the case would be heard after the submission of the CBI’s report, the Justices said.

The High Court had taken up the case after Cantonment MLA P Shankar Rao, now made a Minister, had written two letters, one on the illegal allotment of lands by the Andhra Pradesh Industrial Infrastructure Development Corporation and the other one about the Kadapa MP’s wealth.

Taking suo moto notice of Dr Shankar Rao’s letter, the High Court had taken up hearing.

Dr Shankar Rao had told media persons in February that he was keen to know if the Kadapa MP has any ‘magic wand’ or was the fact that he was the son of former chief minister YS Rajasekhara Reddy which enabled Mr Jaganmohan Reddy’s businesses to grow by leaps and bounds.

The Minister had said that Mr Jaganmohan Reddy has laundered money by floating fictitious firms and had rerouted the money through his companies on foreign soil.

Dr Shankar Rao also pointed that Mr Jaganmohan Reddy paid Rs 15 lakh as tax during 2004, followed by Rs 2 crore in 2009 and a staggering Rs 85 crore as Advance Tax for 2011.

“How can Mr Jaganmohan Reddy’s income, which was just around Rs 11 lakh in 2004, now runs into thousand of crores of Rupees,” he had said.(INN)

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