Quid-pro-quo investment cases against Jagan Reddy: Accused appear before court

Hyderabad: In response to court summons, Ongole MP YV Subba Reddy, IAS officer SN Mohanty and other accused in the quid-pro-quo investment cases involving the YSR Congress chief YS Jaganmohan Reddy appeared before the special CBI court on Friday.

On 22 November, the court had taken cognisance of the 11th chargesheet filed by the CBI against Jagan and others pertaining to Indu-Andhra Pradesh Housing Board land scam and issued summons to all the accused.

Jagan’s financial adviser Vijay Sai Reddy, SN Mohanty, Subba Reddy (a relative of Jagan’s), industrialist I Shyam Prasad Reddy, VV Krishna Prasad and representatives of some companies named as accused in the charge-sheet appeared and submitted personal bonds of Rs 25,000 and two sureties.

This was their first appearance in this case.

Jagan has been named as the prime accused in the charge- sheet which includes a total of 14 accused. The YSRC chief, who represents Pulivendula in Andhra Pradesh Assembly, however did not appear today as he has filed a petition seeking exemption so as to attend the ongoing session. The court adjourned the hearing to 29 January.

In the present case, he is accused of getting the government headed by his father Y S Rajasekhara Reddy to allot 70 acres of prime land here to Indu Projects at throwaway prices in 2008-09. In return, Shyam Prasad Reddy, promoter of Indu Projects, invested Rs 70 crore in Carmel Asia Holdings owned by Jagan, according to the charge-sheet.

The land belonged to the AP Housing Board. SN Mohanty was its vice chairman then; now he is secretary in department of higher education. Former Andhra Pradesh ministers Sabitha Indra Reddy, Dharmana Prasada Rao, Mopidevi Venkantaramana, J Geetha Reddy and others, named as accused in various quid-pro-quo cases, also appeared today.

According to CBI, several industrialists invested in the companies owned by Jagan as a quid-pro-quo for government favours when his father was the Chief Minister.

PTI