CBI moves baffle top industrialists in Jagan's firms

Hyderabad, Feb 27: Top industrialists and investors in YS Jaganmohan Reddy's firms have been left baffled following the CBI investigations into Jagan's assets case.

While the CBI is busy collecting proof against Penna Pratap Reddy and Nimmagadda Prasad, who invested a great deal into Jagan's firms, other industrialists like Madhav Ramachandran, AK Dandamudi, who invested only a few crores are also falling victim under the CBI radar.

They have given statements against Vijay Sai Reddy, Jagan's auditor and other accused in the case.

Potluri Vara Prasad and Nimmagadda Prasad, Penna Group of Companies and Pratap Reddy have been named as accused in the case. The CBI probe focuses on the allotments to the Penna and Vanpic group.

Reports reveal that Nimmagada Prasad allegedly invested Rs 20 crore in Carmel Asia Holdings, while Penna Cements has invested Rs 23 crore. Also India Cements has invested Rs 15 crore in Raghuram Cements, while Dalmia Cements invested Rs 50 crore in the same.

OneIndia News