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Third round of YSR and Jagan QPQ deals exposed by CBI Print E-mail
Tuesday, 08 May 2012 10:45
In what could be termed as the third round  the CBI has exposed  another batch of Quid pro quo deals made by YSR, his son YS Jagan for amassing wealth under their flagship business empire of Jagati publications.

The Ramky group chairman A. Ayodhya Rami Reddy and a group company Ramky Pharma City (India) Limited (RPCIL) which is implementing a pharma city over 2,400 acres in Visakhapatnam are among six accused by CBI in its third charge sheet submitted to a court here today in the assets case against Kadapa MP Y.S. Jaganmohan Reddy.

G. Venkataram Reddy, a former vice-chairman of Visakhapatnam Urban Development Authority, also figured among the accused in the 88 page document. He is presently Collector of Srikakulam. He is the second IAS officer to figure in the  Jagan case after B.P. Acharya who was named in the first charge sheet.

The other accused are:  Jaganmohan Reddy (A 1), his financial adviser V. Vijay Sai Reddy (A 2), Mr. Jaganmohan Reddy owned Jagati Publications (A 3). Ayodhya Rami Reddy, Venkataram Reddy and RPCIL are accused four to six.

A press release of CBI said  Jaganmohan Reddy conspired with  Vijay Sai Reddy to extend benefit to RPCIL in the matter of reducing the green belt area in the pharma city from 250 to 50 metres. Jaganmohan Reddy's father and late Chief Minister Y.S. Rajasekhara Reddy acceded to his son's demand, upon which Mr. Venkataram Reddy approved the layout in violation of rules and VUDA master plan.

As a result, RPCIL gained 914 acres of land which it sold for Rs. 133.74 crore by plotting the area inside the pharma city.Ramky subsidiaries ERES Projects and TWC Infrastructure invested Rs. 10 crore in Jagati Publications as a quid-pro-quo for the benefit it got.

The document was submitted to the court today as part of CBI's decision to file a series of charge sheets against one company at a time that benefited out of investments in Mr. Jaganmohan Reddy's businesses.

The first charge sheet which was filed on March 31 targeted Aurobindo Pharma, Hetero group companies and Trident Life Sciences Limited and the second on April 23 was aimed at Jagati Publications Limited.The third FIR highlighted that ERES Projects and TWC Infrastructure were allotted valuable housing board land at Gachibowli here at a throw away price.
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