HYDERABAD: The new year started on a sour note for Kadapa MP YS Jagan Mohan Reddy’s camp with the Central Bureau of Investigation on Monday arresting Jagan’s Man Friday V Vijay Sai Reddy, who is named as accused No. 2 in his alleged illegal assets case.He will be produced in the special CBI court on Tuesday.This is the first arrest in the case in which the CBI has named 74 accused including Jagan who is accused No.1.Jagan has been charged with doling out public properties, licences, allotting/ granting various projects, SEZs, mining leases, ports, real estate permissions and other benefits to people of his choice in violation of established norms and procedures in the government in a clear quid-pro-quo.The beneficiaries in turn are alleged to have given huge bribes to Jagan under the guise of purchasing shares in companies floated by him at huge and outrageous premiums. Even the Enforcement Directorate has been probing the alleged money-laundering by Jagan.Vijay Sai Reddy is alleged to have played a key role in all these transactions and the CBI is said to have strong evidence against him.The vice-chairman of Jagati Publications Private Limited (JPPL), Vijay Sai Reddy, who has been questioned several times by the CBI at its office, was summoned again on Monday. He reported there in the morning, remained there throughout the day and was arrested at night. Reddy was then shifted to a dingy lock-up in the Central Crime Station.The arrest has come as a clear jolt to the Jagan camp, as his arrest, though it had been on the cards, was not expected by them so soon.Sources told Express that over the last few days, the CBI had been carrying out intense investigation into the alleged illegal assets case with a focus on Jagan’s Sandur power company and a few other firms including Pluri and Plaza properties.The agency was looking into several transactions pertaining to alleged allotment of shares to Jagan’s aides at unsubstantiated amounts. It recorded the statements of four persons in connection with the shares of Plaza Properties recently.Interestingly, Vijay Sai Reddy is understood to have filed two petitions in the court on Monday requesting that the CBI be restrained from inquiring into events that had occurred before 2004 and asking for statements recorded of the four persons associated with Plaza Properties under Section 164 of CrPC. He allegedly played a major role in all the transactions surrounding JPPL, Sandur and all other companies floated by Jagan.CBI officials are said to have found strong evidence to it and are likely to file a petition in the court seeking police custody of him.It is learnt that though the premier investigating agency was reportedly trying its best to win over Reddy and make him an approver, provided he spilled the beans, Reddy is said to have bluntly refused the “offer”.He was arrested under Sections 120-B read with 420, 409, 420 and 477-A, 13 (2) read with 13 (1) (c) and (d) of the Prevention of Corruption Act, 1988 (Criminal conspiracy, cheating, criminal breach of trust, falsification of accounts and criminal misconduct).The CBI had registered the case on August 17.
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