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Updated: January 18, 2012 13:18 IST

CBI team assesses value of Jagan's house

Special Correspondent
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CBI officials at the Lotus Pond bungalow in Hyderabad on Thursday. Photo: Mohammed Yousuf.
Mohammed_Yousuf+SEP+THE HINDU
CBI officials at the Lotus Pond bungalow in Hyderabad on Thursday. Photo: Mohammed Yousuf.

The CBI on Thursday sent a team of officials to Kadapa MP Y.S. Jaganmohan Reddy's house at Lotus Pond in Jubilee Hills here to assess its cost. The action is part of the probe into the illegal assets case the agency has filed against the MP in the Andhra Pradesh High Court.

The team spent close to seven hours in the building located on a plot measuring nearly 6,000 sq. yards and is said to have a built-up area of over 80,000 sq.ft. spread over four floors. The agency has expedited the probe in the last couple of days by questioning several persons.

The CBI had undertaken a search-cum-seizure operation at the office-cum-residence on August 18 as part of the probe it launched at the instance of the High Court.

In the other case booked by the CBI on irregularities in land allotment by Emaar Properties, a senior officer and former vice-chairman of the A.P. Industrial Infrastructure Corporation, L.V. Subrahmaniam, appeared before the agency. He is presently the Executive Officer of the Tirumala Tirupati Devasthanams.

Attachment process

The agency is in the process of attaching the movable and immovable properties of the former Karnataka Minister, Gali Janardhana Reddy, and Managing Director of the Obulapuram Mining Corporation (OMC), B.V. Srinivas Reddy, both of whom are lodged in jail on charges of illegal mining.

CBI Joint Director V.V. Lakshmi Narayana told The Hindu that the process of attaching the properties of the accused in Bellary, Bangalore and other places was on.

Sources in the CBI said the attachment of properties was being taken up to prevent it changing hands.

The agency would invoke provisions of the Criminal Law Amendment Act to attach the properties. It had deployed nearly 60 officers to collect evidence in Mumbai, Kolkata, Chennai, Bangalore, Mangalore, Bellary and Anantapur.

The CBI had already informed the court that Mr. Janardhana Reddy and Mr. Srinivas Reddy were involved in exporting iron ore to benami companies at a rate much less than the market value and the money raised by selling the consignments abroad was invested by these companies in the business ventures of the Reddys. A huge amount of money was used to buy properties.

Let not the honest citizens be disillusioned by these peoples short cut
methods to make a quick buck. What about the assets and foriegn bank

from:  m.thippanna
Posted on: Jan 16, 2012 at 22:28 IST

The stated/claimed illegally extracted iron ore also exported through the Guntakal, Hubli Railway divisions and the divisional operations managers, divisional railway managers who might be allegedly paid bribes to higher ups at Railway Ministry to gain few steps inthe ladder of their career also should be booked, investigated and tried. The actual stated figures on daily basis and alleged targets achieved need be noted. The money, property acquired and whereabouts of the individual(s) need be looked in.

from:  vijay
Posted on: Oct 21, 2011 at 07:29 IST
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