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HC orders CBI to probe investments in Jagan’s companies

HC orders CBI to probe investments in Jagan’s companies

The Andhra Pradesh High Court bench headed by Chief justice Nisar Ahmad Kakru, dealing with petitions filed by state Textile Minister P Shankar Rao and Yerram Naidu of Telugu Desam Party, ordered a full-fledged inquiry by the CBI into all the people and firms who invested in the companies promoted by Kadapa MP Y.S. Jaganmohan Reddy to find out whether those investments were made in order to get favours from the state government.

The HC said the phenomenal growth recorded by companies owned by Jagan and others needs to be looked into in view of their abnormal performance.

The bench said the CBI inquiry should cover not only the purpose stated in the writ petitions but also others who have a direct or indirect participation in the irregularities.

YSR Congress sources say that YS Jagan will move the Supreme Court against the AP High Court directive ordering a full-fledged inquiry.

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