CBI move a prelude to attach Jagans assets?

HYDERABAD: Tightening its noose around Kadapa MP YS Jagan Mohan Reddy’s neck, the CBI on Tuesday reportedly froze the bank accounts of his three companies - Jagathi Publications Pvt Limited, which publishes Saakshi Telugu newspaper, Indira TV, promoter of Saakshi TV, and Janani Infrastructure Ltd, which owns the premises used by both Jagathi Publications and Indira Television.
The charge against the three companies is that huge amounts of money were invested in them in a quid-pro-quo gesture for the benefits extended by the MP’s father, late YS Rajasekhara Reddy, when he was chief minister.
The freezing of accounts comes in the backdrop of the CBI filing its third chargesheet in which it once again named Jagan Mohan Reddy as Accused No. 1.
The companies have bank accounts in the SBI and the Oriental Bank of Commerce.The CBI, it is understood, had written to the bank authorities to freeze the accounts of the companies under Seciton 102 of CrPC. Accordingly, the banks froze the accounts, sources said.
The CBI is of the view that the investments into the firms owned by Jagan Mohan Reddy flowed through these accounts and initiated the action in case it goes for attachment of properties in future.
Jagan Mohan Reddy, who is away in Anantapur campaigning for the byelections, described the freezing of accounts as an act worse than those committed during the emergency days in 70s.
“Unable to face one individual politically, the Congress is resorting to these tactics,” he said, adding: “I had expected the CBI to resort to this kind of tactics.” None could stop Saakshi from functioning. “It appears they (Congress) want no other leader other than them and Chandrababu Naidu to remain,” Jagan said.
The Saakshi group has alleged that the bank accounts were frozen without even serving notices on them. The Congress, in collusion with TDP president N Chandrababu Naidu, was trying to muzzle the financial operations of the three companies unmindful of the fact that it might create a problem to over 20,000 employees, Saakshi management said. The newspaper as well as the TV channel would run without any difficulty, the management added. Saakshi managing editor R Dileep Reddy said the freezing of bank accounts was a blow to the freedom of press. In all clashes between the establishment and the media, ultimately press emerged the victor, he said.

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