Former Kadapa MP YS Jaganmohan Reddy who had resigned from Lok Sabha and from Congress party had floated a new party in the name of his father, YSR Congress.
Jagan’s declared assets were a mere Rs 9 lakh in 2003-04, five years later he declared net worth of Rs 77.40 crore. Now, Central Bureau of Investigation has new task – to unearth Jagan’s assets. Not only Jagan but all those invested in Jagan’s ventures will face scrutiny by Income Tax department.
Jagan’s Sakshi Telugu newspaper was estimated at Rs 3,500 crore by auditing firm Deloitte in 2008.