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Jun 23, 2012 at 02:54pm IST

Jagan Mohan Reddy disproportionate assets case: CBI questions N Srinivasan again

Hyderabad: BCCI chief and India Cements Managing Director N Srinivasan on Saturday appeared before the Central Bureau of Investigation (CBI) in Hyderabad for the second time this week for questioning in connection with a disproportionate assets case filed against YSR Congress chief Jagan Mohan Reddy. "He (Srinivasan) is being questioned in the Jagan assets case," said a senior CBI officer.

The CBI had on Monday quizzed Srinivasan for over six hours with regard to the alleged investments made by his company (India Cements) in the firms promoted by the Kadapa MP when his father late YS Rajasekhara Reddy was Andhra Pradesh chief minister (2004-09).

The agency had earlier alleged that Srinivasan's company received huge allocation of water from Krishna and Kagna rivers during the YSR administration after it reportedly issued two Government Orders (GOs) allotting water to the plants of India Cements in Ranga Reddy and Nalgonda districts of Andhra Pradesh.

For the favours it received, India Cements allegedly invested Rs 135 crore in Jagati Publications and other firms owned by Jagan, who is currently in jail in Hyderabad. The CBI, probing the assets case against Jagan, had arrested the 39-year-old MP on May 27.

The probe agency, in its three chargesheets filed against Jagan and others, has alleged that he and his father

hatched a conspiracy to defraud the government, and the state government granted some favours to certain firms, which made investments in Jagan's businesses as a quid pro quo.

Srinivasan, however, has denied any wrongdoing. India Cements had even issued a statement saying, "We have received a notice in the context of allocation of water towards expansion of capacity of two of our plants in Andhra Pradesh. Our senior officials have already met officials of department in the past and have submitted all the required information sought by them. We are confident that the matter will be resolved at the earliest since water allocation to our units was as per industrial policy of Andhra Pradesh government."

(With additional inputs from PTI)