HYDERABAD: The Central Bureau of Investigation is unlikely to freeze the bank accounts of Kadapa MP YS Jagan Mohan Reddy and his companies.Two reasons are being cited for this: Thousands of people employed in Jagan's companies will be left in the lurch without salaries and the probe has not yet reached a stage where accounts need to be frozen. The agency has, however, analysed and prepared a report on the banking channels, of both hawala companies and regular investors, through which funds, running into thousands of crores, flowed into Jagan's firms. A major chunk of bank transactions were reportedly done through the ICICI Bank.Sources associated with the investigation disclosed to Express that though the CBI mulled over freezing all bank accounts belonging to Jagan and his companies, it reportedly decided that there was no immediate need. ''It will put the fate of several thousand employees in jeopardy,'' they thought.Second, sources said, the probe has not yet reached a stage warranting freezing of the accounts contrary to media reports that the accounts will be frozen.''Normally, bank accounts are frozen of the accused who may abscond or try to divert funds. But we have ensured that nothing of this sort happens in Jagan's case,'' the CBI sources said.It is learnt that the investigators are trying to gather more details about the flow of money into Jagan's and his company accounts with ICICI Bank. ''We are in touch with senior officials of the bank,'' the sources said.But the CBI has an uphill task ahead. Though the searches came to an end on Monday and its various teams are busy consolidating the documents, the sleuths will then focus on serving notices to all those listed as accused in the Jagan and Emaar cases including the Kadapa MP and senior IAS officer BP Acharya, who have been named as the main accused in the FIR.''Our teams are consolidating the documents and once the scrutiny is over, notices will be served to them,'' CBI joint director VV Lakshminarayana told Express.Without giving any time frame as to when the notices would be served, he said that once notices were served, they would be called to the CBI's camp office at Dilkusha Guest House for questioning.The notices will be served under Section 160 CrPC and the accused will be given a specific time and date to present themselves before the agency. ''In any CBI probe, the defence of the accused is a must and will be taken in writing. Only after that may arrests follow,'' the sources said, adding that it would take quite a few months before the CBI got a clearer picture of the alleged criminal conspiracies in both cases.The sources said that once the scrutiny of documents was complete, the CBI would have an uphill task ahead in terms of legal formalities and related paperwork.Dilkusha Guest House: The Hub OF ActivityThe centrally-located Dilkusha Guest House will witness hectic activity in the days to come.Once the CBI serves notices to the accused in the Jagan and Emaar cases, all of them will be coming to the place to appear before the agency for questioning.Various teams of CBI have been camping there and the place has virtually been converted into an office by the investigating agency. Needless to day, the security there has been tightened.It is not the first time the state government's guest house is being used for investigations.Earlier, the Prakash Singh Commission, probing the Maoist attack on the then chief minister N Chandrababu Naidu at Alipiri near Tirupati, operated from here.Later, the CBI used the premises as its temporary office while investigating the Satyam Computers fraud.
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