Questions related to allotment of water to ICL cement units
The Central Bureau of Investigation on Monday examined BCCI Chairman N. Srinivasan, in his capacity as vice-chairman and managing director of India Cements Ltd (ICL), for over six hours here in the disproportionate assets case against YSR Congress president Y.S. Jaganmohan Reddy.
Mr. Srinivasan was questioned as a witness though ICL figures as accused 22 in the First Information Report filed by the CBI in August last.
May have to appear later
Accompanied by his legal aides, Mr. Srinivasan arrived at Dilkusha Guest House, the CBI's makeshift office for the Jagan assets case probe, at 10 a.m. Except for a one-hour lunch break, during which he went out for about 30 minutes, he was questioned till 5.10 pm. He was told that he would be required to come again a few days later, CBI sources said.
Mr. Srinivasan was said to have been questioned on allotment of water to ICL's cement units in Nalgonda and Ranga Reddy districts and extension of lease of land having limestone reserves in Kadapa district. He was questioned by investigation officer SP H. Venkatesh and CBI Joint Director V.V. Lakshminarayana joined him in the post-lunch session, the sources said.
ICL investments
In the FIR, the probe agency said ICL had invested Rs. 40 crore in Jagathi Publications and Rs. 15 crore in Raghuram Cements. ICL was said to have purchased 12,50,000 shares in Raghuram Cements at a premium of Rs. 110 per share in 2007 and the next year it got the land lease renewed in Kadapa district for another 25 years till 2028.
After Mr. Jagan's arrest, the CBI mentioned in its remand report that ICL had invested over Rs. 140 crore in Jagan Group companies. The ICL cement units were allotted 13 million cubic feet (mcft) of water from the Kagna river in Ranga Reddy district, in addition to the then existing supply of 10 lakh litres a day through GO 94 issued in 2009, in violation of norms.
Further, Mr. Srinivasan's cement unit in Nalgonda district was allowed to draw 10 lakh gallons of water every day from the Krishna through GO 146 in 2008.
Being from Chennai area, I should be a supporter of the BCCI President, but his dictatorial actions and getting involved in perceived shady investments like the ones mentioned in the above article is making me dislike this guy. Changing BCCI constitution to accomodate him owning an IPL team as well as hold a position in BCCI, was the starting point of his crookedness. I have started believing rich people are the most greedy people in the world. The more they have, they want more and will even go the extent of hurting the low level guys in many ways (i.e. put workers to hunger, block talented players from getting selected if they cross his path, rig the IPL player draft etc..) to achieve their means. I don't have any confidence in this guy.
Jagan was good following but he has a kingdom of corruption.so C.B.I has take an action on Srinivasan in Jagan case it was power of C.B.I so i appereciate the C.B.I srinivasan face a problem on his son.his son already put up a case on his father so it difficult time for srinivasan.but i hope that srinivasan is a good person.
Please Email the Editor