Wednesday, August 24, 2011

Asset case: SC rejects Jagan plea against HC order for CBI probe

The Supreme Court today dismissed a plea of former Congress leader Y S Jaganmohan Reddy against the Andhra Pradesh High Court's order asking the CBI to conduct a probe into his alleged disproportionate assets.
"There is no need to interfere with the oder of the high court," a Bench headed by Justice Dalveer Bhandari said.
Reddy, son of late chief minister Y S Rajasekhara Reddy, had earlier moved the apex court challenging the August 10 order of the high court saying it was not a "reasoned decision".
The high court, in its order, had directed CBI to take their probe into the case to its logical end.In his petition, Rao had sought a CBI inquiry into the companies that had invested in Jagan's businesses to allegedly win favours in the form of land allotments and mining leases from the then YSR government.

Just seven years ago, in May 2004, Jaganmohan had filed tax returns showing an annual income of Rs 9.19 lakh. Y S Rajasekhara Reddy, too, had declared his son’s income in his affidavit for the May 2004 polls. In the May 2011 Lok Sabha bypoll to Kadapa, Jagan, now YSR Congress Party chief, declared an annual income of Rs 36 crore.

The affidavit declared movable assets totalling Rs 365 crore and immovable property worth just under Rs 39 crore, making him one of the richest MPs in the country.

The high court had set aside the arguments of Jagan's counsel that the petitioner has political vendetta against him and said the contention of the petitioner needs to be appreciated.

On July 22, the Supreme Court had refused to stay the high court's order for a preliminary CBI inquiry to ascertain if Jagan owns assets disproportionate to his income.

A Bench of Justices Dalveer Bhandari and Deepak Verma had dismissed Jagan's plea refusing to interfere with the high court's order.

The apex court had said "at this stage" no interference was required into the high court's order as it was only a preliminary inquiry and the high court can refuse to proceed against him if nothing substantial comes out against him in the probe.

Jagan had approached the apex court challenging an Andhra Pradesh High Court order for a preliminary probe by the CBI to ascertain if he owned assets far exceeding his legal income.


The high court's order came on a petition filed by state Handlooms and Textile Minister P Shankar Rao who had alleged that Jagan's income rose from Rs 11 lakh in 2004 to Rs 43,000 crore by the time of his father's death in 2009.

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