Click to play videoNew Delhi: Former Andhra Pradesh Chief Minister YS Rajshekhar Reddy's son Jagan Mohan Reddy is one step closer to being arrested in an illegal assets case, after his auditor Vijay Sai Reddy was arrested on Monday, shortly after he appeared before the CBI for questioning.
The arrest is significant as Vijay Sai Reddy has been a close aide to the family for more than 3 decades.
Accused number 2 in Jagan Reddy's illegal assets case and auditor of Jagathi Publications Private Limited (JPPL), Vijay Sai Reddy has reportedly been taken into CBI custody.
The CBI officials were also searching the offices of "Sakshi", the Telugu daily and television channel owned by the MP, in his presence.
CBI Joint Director VV Lakshminarayana confirmed that Vijay Sai Reddy was arrested after day long questioning at Dilkusha guest house in Hyderabad.
"We arrested him at 7 pm and will produce him in the court tomorrow (Tuesday)," he said.
The CBI booked a case against him under seven sections of Indian Penal Code including those relating to cheating and abetment.
This is the first arrest made in the case. As the auditor of the family of late chief minister YS Rajasekhara Reddy, Sai Reddy is believed to have all the information about their assets.
The CBI had registered a case against Jagan Mohan Reddy and others in August last year following a direction from the Andhra Pradesh High Court.
The court direction came on petitions by State Minister P Shankar Rao and leaders of Telugu Desam Party (TDP).
The petitioners alleged that the investors who invested in JPPL and other companies owned and promoted by the MP at very high premiums were doing so as a quid pro quo for the favours doled out by his father and the then chief minister, late YS Rajasekhara Reddy.
With additional information from IANS
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
MOST SHARED
PHOTOGALLERY
