In the chargesheet relating to India Cements, the CBI has named Srinivasan, its managing director, as the accused number three. Srinivasan stepped aside a few months ago as the Board of Control for Cricket in India (BCCI) president following spot fixing scandal in Indian Premier League (IPL).

Jagmohan Dalmiya evades question on chargesheet against Srinivasan

The CBI had questioned him twice last year about his company’s investments in Jaganmohan Reddy's firms. India Cements allegedly invested Rs 140 crore into Jagan's businesses in return for the benefits it received from the then government of Jagan's father YS Rajasekhara Reddy, who was killed in a helicopter crash in 2009.

The CBI filed the chargesheets in the special court, naming 25 accused and charging them under various sections of Indian Penal Code. The chargesheets relate to India Cements, Penna Cements and Bharati Cements, the three companies which allegedly made quid pro quo investments in Jaganmohan Reddy's business.

Jagan figured as the accused number one in all three chargesheets while his financial advisor Vijay Sai Reddy is the number two accused. The investments were made into Bharati Cements and Jagati Publications owned by Jagan in return for the benefits India Cements received in the form of additional water allocation for its units in Andhra Pradesh.

The federal agency, however, has not named Andhra Pradesh IT Minister Ponnala Lakshmaiah in the chargesheet. Lakshmaiah, who was Irrigation Minister in Rajasekhara Reddy's cabinet, was also questioned last year with regard to the water allocation to India Cements.

With this the number of chargesheets filed in the case so far has gone up to eight. A CBI counsel told reporters that the remaining chargesheets would be file in two to three days. Jagan, who is in jail since May last year, is facing charges of amassing wealth through quid pro quo deals when his father was Chief Minister from 2004 to 2009.

Unfair to link my business with cricket: Srinivasan

Meanwhile, Narayanaswamy Srinivasan said that his company India Cements being chargesheeted by the CBI in a corruption case involving YSR Congress party chief YS Jaganmohan Reddy has nothing to do with cricket and it is unfair to link the two.

"Don't mix the business chargesheet with my cricket," Srinivasan said.

Srinivasan insisted that India Cements has done nothing wrong and will prove it in the court. "India Cements has done nothing wrong. We will prove it in the court of law," he said.

Srinivasan had stepped aside as the BCCI president in the wake of a betting scandal in the sixth edition of Indian Premier League (IPL). Asked whether his return as the BCCI chief is in any doubt, Srinivasan said, "Don't mix the two things. It will be unfair to do that. I don't want to comment much on that (his status in BCCI)."


Latest News from India News Desk