CBI starts valuation of Jagan properties

Oct 20, 2011 |

Hyderabad

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CBI has started the process of evaluating wealth of Y S Jaganmohan Reddy, son of former Andhra Pradesh Chief Minister Y S Rajasekhara Reddy, in the alleged disproportionate assets case against him.

A team of agency officials today reached his residence here for the 'valuation' of his house and other properties, CBI sources said.

CBI had registered a case against Jagan on the instructions of Andhra Pradesh High Court under relevant sections of the Indian Penal Code pertaining to cheating, criminal conspiracy, criminal breach of trust and under provisions of Prevention of Corruption Act.

Acting on the separate petitions filed by Textile Minister P Shankar Rao and TDP leader Yerran Naidu, the Andhra Pradesh High Court had recently ordered CBI to probe the alleged illegal assets that the Kadapa MP had amassed during his father's reign as Chief Minister.

CBI has also booked Jaganmohan for allegedly 'conspiring' with his father and other individuals and companies to 'cheat the government of Andhra Pradesh in the matter of granting certain favours to many companies'.

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