Srinivasan, Jagan appears before CBI Court

Hyderabad, Nov 1 : Indian Cements Managing Director N Srinivasan on Friday appeared before the CBI Court in connection with the Disproportionate Assets case of YSR Congress party president Jagan Mohan Reddy.

The main accused, Jagan Mohan Reddy, Jagathi Publications vice-chairman Vijaysai Reddy and other accused in the case also appeared before the court. After the personal appearances of the accused, Second Additional Special Judge for CBI Cases MV Ramesh adjourned the next hearing to December 3.

It may be mentioned that the CBI in its charge-sheet filed before the court on September 10 named Srinivasan as the third accused in the case. The CBI alleged that his company invested Rs 140 crore in the companies owned by Jagan Mohan Reddy and under quid pro quo arrangement, the India Cements units in Nalgonda and Ranga Reddy districts got additional allocation of water from the Krishna and Kagna rivers. It also got a limestone mining lease in Kadapa for a period of 25 years in violation of the norms.

Srinivasan, who reached the court at Nampally about half-an-hour before the proceedings began, stayed in the court for more than an hour. When media tried to get his quote, he only said that he did nothing wrong and would prove his innocence in the court. INN