YSRC president Y S Jaganmohan Reddy, former minister Sabita Indra Reddy and others accused in the quid-pro-quo investments case related to Indu Techzone Pvt Ltd., appeared before a special CBI court here today.
The case pertains to alleged investments made by various private firms and individuals to a tune of several hundred crore rupees in Jagan’s businesses, (named as accused number 1), as part of quid-pro-quo arrangement in exchange for alleged favours by the erstwhile YS Rajasekhara Reddy Government.
Senior IAS officers Ratna Prabha and B.P Acharya, industrialist Nimmagadda Prasad, who were among the other accused in the charge-sheet, also appeared before the court.
According to CBI, Indu Techzone Pvt Ltd was allotted 250 acres land at Shamshabad here by the State Government when Jagan’s father late Y.S. Rajasekhara Redddy was the Chief Minister, and in return, the company invested Rs 15 crore in Caramel Asia Holdings Pvt Ltd.
CBI has accused Jagan of amassing huge wealth through illegal means by misusing the office of YSR when he was the Chief Minister between 2004 and 2009.(NSS)
