Daijiworld Media Network
Hyderabad, Aug 11: The Andhra Pradesh High Court had ordered a CBI probe into Y S Jaganmohan Reddy's allegedly gathered assets. The CBI has also been directed to register a case against all others who had invested in the companies which were promoted by him.
Taking into account a CBI report submitted on July 26 and while dealing with a petition filed by state Textile Minister Dr P Shankar Rao along with Telugu Desam Party leaders' petition, the High Court gave the order.
The probe has been ordered mainly into Jagathi Publications owned by Jaganmohan.
The bench headed by Chief Justice Nisar Ahmad Kakru noted that the publications had been showing phenomenal growth and therefore needs to be probed into due to its 'unusual' performance.
Jagan had allegedly managed to transfer public properties and permissions, leases and licenses favouring various companies at throwaway price in lieu of thousands of crores of kickbacks. Shankar Rao alleged Jagan Reddy's income rose from Rs 11 lac in 2004 to Rs 43,000 crore by the time of his father's death.
Earlier this year, Jagan declared his assets to be worth Rs 365 crore. Several parties across the political spectrum have welcomed the High Court's order.