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Andhra HC orders probe into Jagan assets, Emaar case

Andhra HC orders probe into Jagan assets, Emaar case
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First Published: Wed, Aug 10 2011. 05 11 PM IST
Updated: Wed, Aug 10 2011. 05 11 PM IST
Hyderabad: The Andhra Pradesh high court on Wednesday ordered a full-scale probe by the Central Bureau of Investigation (CBI) into allegations that Congress rebel and Kadapa member of Parliament (MP) Y.S. Jagan Mohan Reddy amassed assets disproportionate to his income during the years that his late father was the state’s chief minister.
The court also ordered a CBI inquiry into allegations of wrongdoing in a real estate project undertaken by Emaar Properties and the Andhra Pradesh Industrial Infrastructure Corp.
The orders followed preliminary probes conducted by the CBI into the allegations to determine if there was sufficient evidence to order full investigations
Jagan Mohan Reddy’s opponents have alleged in three separate petitions that he misused his late father Y.S. Rajasekhara Reddy’s position to attract investments into his businesses in return for doling out favours such as land allotments and mining leases. The senior Reddy died in a helicopter crash in September 2009 after having been chief minister since 2004.
Jagan Mohan Reddy, who has business interests in media and cement, among others, has denied the allegations, saying his opponents were trying to harm his political career. He resigned from the Congress and the Lok Sabha in November after being sidelined by the party leadership following his father’s death.
Jagan Mohan Reddy declared assets worth Rs365 crore ahead of a May byelection in which he was reelected to the Lok Sabha by a landslide from Kadapa. His assets increased from the Rs77 crore he declared before the 2009 election.
yogendra.k@livemint.com
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First Published: Wed, Aug 10 2011. 05 11 PM IST