Searches soon on companies and individual investors

The Central Bureau of Investigation (CBI) is all set to carry out searches on the premises of companies and individuals who invested in the business empire of Kadapa MP Y.S. Jaganmohan Reddy, having booked cases against him and Emaar Properties on the orders of High Court.

CBI Joint Director V.V. Lakshmi Narayana held extensive consultations with Nagamaruthi Sarma, magistrate of the special court for CBI cases here, to seek search warrants for over 90 locations belonging to 32 corporates and individual investors, including Nimmagadda Prasad of Matrix Labs and Vijay Sai Reddy who is the vice-president of Jagati Publications owned by Mr. Jaganmohan Reddy.

The CBI earlier issued First Information Reports (FIRs) separately against Mr. Jaganmohan Reddy and Emaar Properties as part of booking the cases and the same were handed over to the magistrate when Mr. Lakshmi Narayana went to the Nampally courts complex in the afternoon.

The CBI official later held a marathon meeting with members of a multi-disciplinary investigation team (MDIT) to plan the logistics of completing the raids across the State.

The Dilkusha guesthouse where the CBI had earlier carried out investigation into the multi-crore scandal in Satyam Computers was again chosen as the camp office of the MDIT. The meeting went on till late on Wednesday evening . Sources said Mr. Jaganmohan Reddy was booked under various sections of the IPC pertaining to cheating, prevention of corruption, money laundering, and foreign exchange management.