Jagan case: CBI to quiz BCCI,India Cements chief Srinivasan

Srinivasan's company is under scanner for alleged investments in Jagan Mohan-promoted firms.

Written by Agencies | Hyderabad | Published:June 8, 2012 10:54 am

The CBI has called BCCI chief and India Cements Managing Director N Srinivasan for questioning in connection with disproportionate assets cases against YSR Congress chief Jagan Mohan Reddy,agency sources said today.

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They said Srinivasan has been asked to appear next week at the CBI office here.

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The CBI is probing the alleged investments made by Srinivasan’s company India Cements in the companies promoted by the Kadapa MP during the tenure of his father Y S Rajshekhara Reddy as chief minister,the sources said.

The agency has also asked officials of some other cement companies to appear for questioning,they said.

CBI sources said the cement companies could be asked about water and limestone allocations made during the tenure of Rajashekhara Reddy as chief minister.

Efforts to contact Srinivasan did not materialise.

The CBI,in its three charge sheets filed against Jagan and others,has alleged that he and his father had hatched a conspiracy to defraud the government with Jagan influencing Rajasekhara Reddy in doling out certain favours to various investors,who made investments in Jagan’s businesses.

Jagan is currently in judicial custody till June 11 and has been questioned by the CBI.

In a statement,a spokesperson of India Cements said,”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 AP government,” it said.

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India Cements has not done anything wrong: Srinivasan

Called for questioning by CBI in connection with disproportionate assets cases against YSR Congress chief Jaganmohan Reddy,BCCI chief and India Cements Managing Director,N Srinivasan today claimed that the company has not done anything wrong and that it is ready to cooperate with the investigating agency.

“The company has responded in detail to the CBI and whatever water rights were given within the industrial policy of Andhra Pradesh,all this has been explained to them.

“So therefore we are very confident that as far as India Cements is concerned,they have not done anything wrong and that will be proved,” Srinivasan said.

CBI is probing the alleged investments made by Srinivasan’s company,India Cements in the companies promoted by the Kadapa MP during the tenure of his father Y S Rajshekhara Reddy as chief minister,the sources said.

Confident that his company is clean,Srinivasan said they will cooperate with the investigating agency.

“See as far as the company is concerned,if they want to examine anybody,ask somebody naturally we will cooperate.

“We bought shares,sold it a huge profit also. All this has been explained. So therefore,there is nothing untoward in the entire transaction,” he told ‘NDTV’.

Agency sources said Srinivasan has been asked to appear next week at the CBI office here.

CBI sources said the cement companies could be asked about water and limestone allocations made during the tenure of Reddy as chief minister.

The CBI,in its three charge sheets filed against Jagan and others,has alleged that he and his father had hatched a conspiracy to defraud the government with Jagan influencing Rajsekhara Reddy in doling out certain favours to various investors,who made investments in Jagan’s businesses.

Jagan is currently in judicial custody till June 11 and has been questioned by the CBI.

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