New Delhi: Jagan Mohan Reddy, one of India's richest politicians, has asked the Supreme Court to stop a CBI inquiry intended to uncover the source of his wealth. He has accused his former party, the Congress, of using the court as "a playing ground for settling political rivalry."
Earlier this month, the Andhra Pradesh High Court asked the CBI to conduct a preliminary inquiry on whether Jagan's business prospered during the years when his famous father, YSR Reddy, was Chief Minister of Andhra Pradesh. YSR, as he was known, died in a helicopter crash in 2009.
In April this year, Jagan declared assets worth 365 crore rupees.
The High Court asked the CBI to complete the inquiry in two weeks. The case against Jagan Mohan has been filed by Shankar Rao, a minister in the Congress government in Andhra Pradesh. Several other leaders from the Telugu Desam Party (TDP) have supported Mr Rao's petition. Jagan Mohan told the Supreme Court today that the Congress and the TDP are worried about his growing political popularity.
YSR's son has gone to considerable lengths to prove his appeal to voters. Upset over not being made Chief Minister after his father died, Jagan quit the Congress in November last year and launched the YSR Congress in March. He won his election to the Lok Sabha from his father's seat in Kadapa with a massive margin. And he regularly conducts highly-publicised tours to meet families who say they are in mourning for YSR.
Based on the High Court's order, the CBI has issued notice to 20 companies and individual investors who put money in Jagan's companies like Jagathi Publications. Sources say 30 more notices are likely to be issued this week.
The CBI is also expected to seek the setting up of a multidisciplinary investigation team, similar to the one that looked into the Satyam case, for a full inquiry into all of Jagan's assets spread over several states. Such an investigation would be conducted in coordination with the Enforcement Directorate (ED), Income Tax department and the Registrar of Companies.
Earlier this month, the Andhra Pradesh High Court asked the CBI to conduct a preliminary inquiry on whether Jagan's business prospered during the years when his famous father, YSR Reddy, was Chief Minister of Andhra Pradesh. YSR, as he was known, died in a helicopter crash in 2009.
In April this year, Jagan declared assets worth 365 crore rupees.
The High Court asked the CBI to complete the inquiry in two weeks. The case against Jagan Mohan has been filed by Shankar Rao, a minister in the Congress government in Andhra Pradesh. Several other leaders from the Telugu Desam Party (TDP) have supported Mr Rao's petition. Jagan Mohan told the Supreme Court today that the Congress and the TDP are worried about his growing political popularity.
YSR's son has gone to considerable lengths to prove his appeal to voters. Upset over not being made Chief Minister after his father died, Jagan quit the Congress in November last year and launched the YSR Congress in March. He won his election to the Lok Sabha from his father's seat in Kadapa with a massive margin. And he regularly conducts highly-publicised tours to meet families who say they are in mourning for YSR.
Based on the High Court's order, the CBI has issued notice to 20 companies and individual investors who put money in Jagan's companies like Jagathi Publications. Sources say 30 more notices are likely to be issued this week.
The CBI is also expected to seek the setting up of a multidisciplinary investigation team, similar to the one that looked into the Satyam case, for a full inquiry into all of Jagan's assets spread over several states. Such an investigation would be conducted in coordination with the Enforcement Directorate (ED), Income Tax department and the Registrar of Companies.
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