Asia / Oceania
India Cements MD appears before CBI
Jun, 18 2012
(India) -- India Cements managing director and the Board of Control for Cricket in India (BCCI) chief N Srinivasan appeared before the investigative agency, CBI, in connection with the disproportionate assets case against YSR Congress chief Jaganmohan Reddy on Monday.
CBI is investigating the alleged investments made by India Cements in the firms promoted by the Kadapa MP during the tenure of his father Y S Rajasekhara Reddy as Andhra Pradesh chief minister.
Srinivasan was asked by the CBI to appear before it for investigation. The agency sleuths are currently questioning him.
The CBI has alleged that Jagan and his father hatched a conspiracy to defraud the government. The state government granted undue favors to certain firms, including India Cements, which made investments in Jagan's businesses as a quid pro quo.
Jagan is currently in judicial custody till June 25 and has been questioned by the CBI.
By: Rashmi Kalia (ARI-C NEWS)
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