F Andhra Entertainment : Investments poured into Jagan Co.s!

Investments poured into Jagan Co.s!

By sy on 6:59:00 AM
Investments poured into Jagan Co.s under pressure: CBI Hyderabad, May 10: The CBI has informed the Special Court that none of the shareholders had invested their money in the companies owned by YSR Congress chief Y S Jagan Mohan Reddy voluntarily. The CBI, on Thursday, filed its counter to the petition filed by Jagati publications challenging CBI’s decision to freeze its bank accounts. In the counter petition, the CBI has stated that both Jagan Mohan Reddy and the company’s vice-chairman Vijaya Sai Reddy had threatened NRI Madhava Chandran and made him invest Rs 39.60 crores. The agency also alleged that bribes were shown as investments. The CBI has frozen accounts held by Jagati Publications and Indira Television in the State Bank of India and Oriental Bank of Commerce. Challenging the CBI action, the two companies on Wednesday filed petitions pleading that the CBI action be annulled, as more than 20,000 employees would be affected. The company also said that it was spending Rs 8 crores towards salaries and Rs 25 crores for purchase of newsprint. The companies have alleged that by freezing the bank accounts, the right of livelihood of the employees was scuttled by the CBI. Admitting the petition, the CBI court directed the agency to file its counter, which was filed on Thursday.

edit post

Comments

0 Response to 'Investments poured into Jagan Co.s!'

Post a Comment

Newer Post Older Post Home i am everywhere except homepage
Subscribe to: Post Comments (Atom)