The court took into consideration CBI’s first chargesheet in the disproportionate assets case that was filed on Mar 31. With the court issuing orders on the same a week ago, the matter came up for hearing only on Monday. The chargesheet entails the illegal allotment of government land and SEZ plots to firms like Aurobindo Pharma, the Hetero group and Trident. This largesse ensured that these firms invested heavily in Jagati Publications and Janani Infrastructure that is owned by Jagan.
Among others who were issued the summons are Jagan’s auditor Vijay Sai Reddy, Hetero director M Srinivas Reddy, Aurobindo’s Nityananda Reddy and BP Acharya of APIIC. Also served summons were P Sarath Chandra Reddy of Trident Pharma, APIIC general manager (projects) Y Vijaya Lakshmi Prasad, Aurobindo company secretary PS Chandra Mouli, Jagati Publications, Janani Infrastructure represented by Jagan; Aurobindo and Trident and Hetero represented by their directors.
The CBI also made an allegation that Nityananda Reddy and Srinivas Reddy hatched a conspiracy with YS Rajasekhar Reddy and Acharya that led to the allotment of 75 acres of land at the Jadcherla SEZ at Rs 7 lakh per acre. The pricing was way below the market rate and the rate fixed by the price fixation committee, that eventually led to a loss of Rs 17.2 crore.