August 18th, 2011
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CBI raids Jaggan Reddy, FIR filed

son of  YSR reddyHyderabad: The Central Bureau of Investigation (CBI) has filed an FIR and has begun raids at YSR Congress leader Jagan Mohan Reddy’s properties and companies here today.It is only yesterday that the CBI sought permission to investigate into the accumulation of wealth disproportionate to his known source of income.

Mr Reddy with a declared assets of  Rs. 365 crores is one of Indias wealthiest politicians.The CBI has also raided the office of Sakshi TV, a local channel belonging to Mr Reddy, the home of IAS officer BP Acharya in Hyderabad and several places in Bangalore, Chennai, Kolkata and Mumbai.

The complaint against the  young MP was filed by rival politicians led by Andra state Textile Minister P Shankar Rao of the Congress. A case filed by Mr Rao alleges that Mr Reddy’s businesses profited vastly when his father,YS Rajasekhara Reddy, was the Chief Minister. Mr Reddy’s income, according to Mr Rao, rose from Rs. 11 lakhs to Rs. 43,000 crore by the time of his father’s death in September 2009 when the latter’s helicopter crashed. YSR was then head of the Andhra Pradesh government.

Mr Reddy  has in turn accused the Congress of “witch-hunting.” The investigation into Mr Reddy’s wealth was sanctioned by the Andhra High Court. Mr Reddy had  moved the Supreme Court on Wednesday against the August 10 order of the High Court.



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