AP HC ordered CBI to register a criminal case against YSR Congress president Y.S. Jaganmohan Reddy of amassing assets illegally

AP HC ordered CBI to register a criminal case against YSR Congress president Y.S. Jaganmohan Reddy of amassing assets illegally

On Wednesday -
The Andhra Pradesh high court division bench comprising chief justice Nisar Ahmad Kakru and justice Vilas V Afzulpurkar issued the order and directed the CBI to probe how YSR Congress Party chief Jaganmohan Reddy’s assets allegedly became disproportionate with his known sources of income after the CBI submitted its preliminary findings.

The A.P. High Court directed the Central Bureau of Investigation (CBI) to register a case of crime and launch a full-fledged investigation into allegations against YSR Congress president Y.S. Jaganmohan Reddy of amassing assets illegally.

The bench said that there were violations of the Indian Penal Code, Prevention of Corruption Act, and Prevention of Money Laundering Act apart from criminal conspiracies, and other offences.

The Bench noted that there was commission of offences involving “huge magnitude of investment by local and foreign companies, some located in tax-haven countries.

The court ordered the CBI to probe the alleged wrongdoing in the Emaar Properties case in which Andhra Pradesh Industrial Infrastructure Corporation allegedly suffered a loss of more than Rs.1,000 crore when YSR was CM.

The Vigilance and Enforcement probe into the Emaar scam has estimated a loss of Rs 4,310 crore to the Andhra Pradesh Industrial Infrastructure Corporation [APIIC] in the sale of villas, plots and apartments at the Emaar Township at Manikonda.

Emaar MGF said that company sold 100 villa plots for Rs 5,000 per square yard.
But in probe the laptop of the EHTPL CEO, Mr. Vijay Raghavan revealed that plots were sold for Rs.45, 000 per square yard.
The laptop had also revealed that seven villa plots and three villas were sold for Rs 47.43 crore in cash


Textile minister P Shankar Rao had written a letter and three members of the Telugu Desam Party had filed a petition in the court asking for a CBI inquiry into the companies that had invested in Jagan Mohan Reddy's businesses.

They alleged that these companies sought favors in the form of land allotments and mining leases from the then government led by Jagan's father Y S Rajasekhara Reddy.
The companies invested in the companies of Jagan and got the benefits from his father YSR as he was the Chief Minister of state.

They received benefits in various forms such as Special Economic Zones, irrigation contracts, permission for real estate ventures, and mines.

July 12 –
The A.P. High Court ordered the CBI to conduct a preliminary enquiry into the allegations that whether Mr.Jagans business increased prospered during the years when his father, YSR Reddy, was Chief Minister of Andhra Pradesh.

Media has reported that Jagans assets were acquired when his father, YS Rajasekhar Reddy (YSR), was chief minister from 2004 to 2009
Jagan Reddy's income rose from Rs. 11 lakhs in 2004 to Rs.43, 000 crore by the time of his father's death.
YS Rajasekhar Reddy (YSR) died in helicopter crash in 2009.
April 2011 - Jagan declared assets worth Rs. 365 crores.

July 19 –
Jagan filed appeal in Supreme Court to stop the inquiry by CBI but Supreme Court refused to stop the inquiry.

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Tags – News Corruption Politics Jaganmohan Reddy assets Criminal Case Andhra Pradesh high court division bench chief justice Nisar Ahmad Kakru justice Vilas V Afzulpurkar