HYDERABAD: The Central Bureau of Investigation (CBI) informed the Telangana High Court on Friday that YV Subba Reddy, former MP and a relative of the late Chief Minister YS Rajashekar Reddy, was purportedly part of a conspiracy devised by YS Jagan Mohan Reddy and his associates.
The alleged scheme aimed to acquire valuable land parcels across various parts of undivided Andhra Pradesh, masquerading as housing projects under the banner of M/s Indu Projects Pvt Ltd. After hearing arguments from both sides, Justice K Lakshman of the Telangana High Court has reserved judgment on the matter.
The CBI counsel presented documentary evidence to the court, asserting that the contract for constructing low and medium-income group housing, as well as villas in Gachibowli, Kukatpally, and Nagole, was awarded to Indu Projects by the Andhra Pradesh Housing Board during the tenure of Rajashekar Reddy.
The CBI elaborated on how companies like Indu Projects, Soma, and Unity Pvt Ltd were allegedly excluded from the housing project at Gachibowli, while Subba Reddy was reportedly included. The CBI argued that the project allocation was overseen by Rajashekar Reddy since the project’s inception.
These arguments were presented during the hearing of the petition filed by Subba Reddy, who sought to quash his name from the FIR registered by the CBI. According to the CBI counsel, Subba Reddy’s entry into the housing project was allegedly through the “back door,” with a claimed criminal intent. It was asserted that Subba Reddy invested a nominal amount of Rs 11 lakh to become a 50% shareholder in the 4.23-acre high-cost housing project at Gachibowli.
The CBI contended that Subba Reddy did not meet the contract’s prerequisite, which required the bidder to have completed works worth Rs 100 crore in the construction field. The CBI further claimed that this information was not disclosed to the Andhra Pradesh Housing Board. In response, Subba Reddy’s counsel argued that there was no evidence of illegal gratification or a demand for consideration. The CBI had registered the case against Subba Reddy under Section 9 of the Prevention of Corruption Act, which Subba Reddy’s legal team contended was not applicable to him.
The crux of the matter
The alleged scheme aimed to acquire valuable land parcels across various parts of undivided Andhra Pradesh, masquerading as housing projects under the banner of M/s Indu Projects Pvt Ltd