Jagan case: CBI clears 8 firms, says no sign of undue favours

Hyderabad: The CBI on Monday informed the special court for CBI cases that it could not establish the quid pro quo allegations between Jagan Mohan Reddy and seven firms. This means there will be no further chargesheets in the case except for a final report regarding Indu Projects.
However, the ED and the I-T department will take over the probe regarding other violations.
The CBI had earlier filed 10 chargesheets regarding 10 companies which had invested in Reddy’s firms in lieu of favours they allegedly received during YSR’s regime. On Monday the agency filed a memo in the CBI court stating that investigations covering all aspects referred to in the writ petition filed in High Court in Reddy’s case had been completed.
8 firms face ED, I-T action
The CBI will not initiate action against Sandur Power Company, Carmel Asia Holdings, PVP Business Ventures, Jubilee Media Communications, Classic Realty, Brahmani Infratech, RR Global Enterprises and Saraswati Power and Industries as it did not find any evidence against these firms regarding quid pro quo deals.
The agency, however, found irregularities and violations committed by firms and individuals; these matters had been referred to the Enforcement Directorate, Income Tax department, Registrar of Companies and the state government.
In the memo, CBI investigators stated that the issue of Kolkata-based briefcase companies had been handed over to the ED and the I-T department.
The Kolkata-based companies are Artillegence Bio-innovations Limited, Bay Inland Finance, Bhaskar Fund Management, Clifton Pearson Exports & Agencies, Delton Exim, Ganga Builders, Grow More Fund management, New Outlook Securities, Shakti Ispat Products, Shiv Laxmi Export, Stock Net International, Super Finance, Kirti Electro Systems, Ispa sheets, Sugam Commodeal and Chandlier Tracon.
The CBI informed the court that probe has been completed regarding favours shown by the AP Housing Board to one of the accused, Shyam Prasad Reddy of Indu Projects, and the final report would be filed in it soon.
Brahmani Steels is being investigated in the Obulapuram Mining Company case and further investigation is pending in the case in which mining baron Gali Janardhan Reddy is the key accused.
The bureau stated that district offences had been committed in issues pertaining to Hetero, Aurobindo, Ramky Pharmacity, Vanpic, Dalmia Cements, India Cements, Penna Cements, Raghuram Cements, Indu Tech zone and Lepakshi Knowledge Hub.