HYDERABAD: In a setback to N Srinivasan of India Cements, the Special CBI Court on Friday dismissed his plea seeking exemption from his personal appearance in the Jagan assets case. During the course of hearing, the counsel for Srinivasan submitted that his client who was aged 72 years has been facing inconvenience in attending the court and that he has to look into affairs of various companies.
An advocate would appear before the court on his behalf to avoid any obstacles to the case hearing, he said and urged the court to grant relief from his personal appearance in the case and to allow his counsel to appear on his behalf.
On the other hand, the counsel for Enforcement Directorate told the court that granting relief to Srinivasan at this stage would have an impact on the case hearing. In fact, the accused was facing severe charges regarding money laundering. How could the accused seek relief when he has been managing company affairs at this age, he pointed out. Taking the submissions of ED counsel into consideration, the Special CBI Court refused to grant relief to Srinivasan and posted the case to Jan 19 for further hearing. Meanwhile, YSR Congress president Jagan Mohan Reddy and his close aide and MP Vijay Sai Reddy appeared before the Special CBI court.
Jagan appears
YSRC president YS Jagan Mohan Reddy and his close aide and MP Vijay Sai Reddy appeared in the special CBI court which was dealing with the illegal assets case.
What is the case about?
The case relates to investments made by various companies in Jagan Mohan Reddy's firms as quid quo pro for alleged favours bestowed on them during the tenure of his father, the then Andhra Pradesh CM YS Rajasekhara Reddy (2004 to 2009) in the form of land allotments for development of port and industrial corridor, besides exemption under the Urban Land (Ceiling & Regulation) Ac
India Cements made alleged quid pro quo investments to the tune of Rs. 140 crore into Reddy-owned companies, and consequent "undue" benefits received by the firm in allocation of land and water from rivers Krishna and Kagna.
Jagan Mohan Reddy was arrested in March 2012 and released after 16 months in prison, in September 2013, on the condition that he did not tamper with evidence or influence witnesses.
(With online desk inputs)