Sakshi Effect: Cancel Jagan’s Bail, CBI asks Court

Hyderabad: A petition was filed by CBI in special court to cancel the bail of YSRCP President Jagan Mohan Reddy in DA case.

According to CBI, Jagan is influencing the key witness in the case with the help of Sakshi. CBI quoted interview of AP former Chief secretary Ramakanth Reddy which was done by K.Srinivas Rao on Sakshi channel.

Court accepted the petition and directed Jagan to file counter on or before April 7.

YSRC President gets a rude shock at this juncture from CBI court which happened when party is slowly expanding in many parts of the state. Jagan was in public fighting in and out of Assembly , raising voice against CM Chandrababu Naidu for the past few months.

Decision by CBI to cancel the bail,showing interview of Ramakanth Reddy looks to be a trick by ruling party as per political analysts. If court cancels bail, it will be a big blow for YSRC in coming days.

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CBI Raids On MLC Embarrass TDP

The IT raids on the residences and offices of the TDP MLC Vakati Narayana Reddy, an industrialist, have sent tremors through the ruling party in AP.

Amaravati: The ruling party in AP has faced a major setback today when CBI raids were conducted on a newly elected MLC, Vakati Narayana reddy at Nellore.

As per sources Vakati was a defaulter of loans from banks like SBI, Bank Of Baroda and IOB. Along with these Reddy is facing allegations about the huge amount spent on recent MLC elections.

As per Bank Sources, Vakati is a defaulter of more than 190 crores which was sanctioned by the above banks in 2014.

On IFCL complaint CBI registered case on MLC and raids were still going on Vakati properties in Hyderabad, Nellore and Bengaluru

Vakati is a big industrialist and realtor with project names like VNR Constructions, VNR Infra and VNR logistics. Vakati is a contractor in Indian railways too.

Vakati was defeated in 2014 when he contested as Congress candidate, later switched over to the ruling party and contested as MLC.

These raids on TDP MLC, Chairman of VNR Group Vakati have created tremors in the ruling party.

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IT Commissioner Arrested On Bribery Charges

CBI has arrested Income Tax Commissioner Rajendra Prasad and five others on the allegation of taking bribe.

Mumbai: In a stunning turn of events, the Central Bureau of Investigation (CBI) arrested an Income Tax Commissioner and five others in connection with an alleged bribe taken to favour a corporate company.

It is alleged that the accused have taken over Rs.19 lakhs as bribe from a major corporate group. While Commissioner B B Rajendra Prasad and another person have been arrested at Visakhapatnam, others were taken into custody in Mumbai.

The CBI sources said that the case is related to over Rs 19 lakhs allegedly taken as bribe by the Commissioner. Meanwhile, the agency has also seized Rs. 1.5 crores during searches.

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Breather For Jagan, CBI Plea For Cancellation Of Bail Dismissed

A CBI petition in the CBI court requesting for cancellation of the bail, granted to YS Jagan Mohan Reddy earlier, for allegedly influencing a witness was rejected on Friday. Reddy was permitted to visit New Zealand.

Hyderabad: The CBI court has rejected the CBI plea to cancel YS Jagan Mohan Reddy’s bail. Giving its decision on Friday, the court has said the argument of the CBI is untenable. The court has earlier reserved its judgment after hearing the arguments.

The CBI in its petition has cited the interview of former Chief Secretary of undivided Andhra Pradesh, Ramakant Reddy, aired recently by Sakshi TV. The interview was part of the series of interviews in the programme ‘ Manasuloo Maata’. The interviewer was a senior journalist Kommineni Srinivasa Rao. Ramakant a Reddy has commented on the unprofessional way in which the investigation was done by the CBI. Ramakant Reddy is a witness in the CBI cases against Jagan Mohan Reddy. Citing those comments the CBI has filed a petition requesting the court to cancel the bail earlier granted to Jagan Mohan Reddy as the latter was trying to influence a witness.

The judge made it clear that the bail cannot be cancelled basing on the evidence produced by the CBI.

The judge has also permitted Reddy to go out of the country for a holiday along with family members. In fact, the judge, M Venkata Ramana, has put a condition that Jagan Mohan Reddy should take his family with him in his trip to New Zealand. Reddy has asked the court for permission to abroad for 15 days between May 15 and June 15.

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Advani, Joshi, Uma To Face Babri Case Trial

Babri Masjid demolition case has not been resolved for decades. The Supreme Court allows the appeal by CBI and direct Lucknow court to conduct trial against senior BJP leaders LK Advani, Joshi and Uma Bharti.

New Delhi: The Supreme Court on Wednesday ordered that senior BJP leaders LK Advani and Murli Manohar Joshi, Uma Bharti among others have to face trial at Lucknow court on charges of criminal conspiracy in the case of the demolition of Babri Masjid on 6 December 1992.

The apex court has allowed the revival of CBI case. The CBI earlier filed a petition challenging the withdrawal of criminal conspiracy charges against Advani and others. Rajasthan Governor Kalyan Singh has been exempted from the trial since he enjoys immunity under Article 361 of the Constitution. Once he steps down from the position, he will have to face the trial.

The SC has directed the Lucknow court to conduct trial on day-to-day basis continuously without granting any adjournment. The Lucknow court has been hearing on the charges against Kar Sevaks. The apex court has transferred the trial of Advani and others from Rae Bareli court to Lucknow court.

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Satyam Raju gets 7 years in jail

HYDERABAD: In the sensational Satyam Computers Accounting Fraud case, the Special Court for CBI cases here on Thursday convicted and sentenced the company’s founder-chairman Byrreddy Ramalinga Raju and his nine accomplices to undergo seven years’ rigorous imprisonment. The court also imposed a fine of Rs 5 crore each on the principal accused and his brother B. Rama Raju. The remaining accused were ordered to pay a fine of Rs 25 lakh each.

[quote align=”left”]

  • Nine others also sentenced in fraud case
  • Raju brothers fined 5 crore each, others 25 lakhs
  • 226 witnesses examined in 6 years

[/quote]

 

It may be mentioned here that one of the world’s biggest accounting fraud by Satyam Computers Services Ltd to the tune of Rs 7,000 crore came to light on January 7, 2009 with the confession of Ramalinga Raju. Raju wrote a letter to the Board of Directors of the company, in which he admitted to cooking the books of the company. A copy of the letter was sent to the stock exchanges as well as the Securities and Exchange Board of India. In this letter Raju admitted to inflating the cash and bank balances of the company by Rs 5,040 crore. He had confessed to manipulating his company’s account books and inflating profits over many years. The confession sent shockwaves across the Software and Information Technology Enabled Service (ITES) industry in the country.

Taking cognizance of Ramalinga Raju’s disclosures of accounting fraud, the Central Bureau of Investigation plunged into action and arrested him on January 9, 2009. Along with Ramalinga Raju, nine others – B. Rama Raju (Ramalinga Raju’s brother and former Managing Director), Srinivas Vadlamani (former Chief Financial officer), S. Gopalakrishnan and Taluri Srinivas (partners Price Waterhouse), B. Suryanarayana Raju, Prabhakar Gupta (internal auditor), G. Ramakrishna (Head, Finance), D. Laxmipathy and Venkatpathi Raju were arrested and charge-sheeted by the CBI. All the accused were tried under Sections 120 B read with Section 420 IPC. After six years of trial, all the accused were found guilty of all charges by Nampally Special court.

Special Judge BVLN Chakravarthi sentenced all the 10 accused to suffer seven year punishment in jail. Raju who was earlier pronounced guilty by the court had requested the judge for lighter punishment due to his health issues, and he also mentioned that he had to look after his aged parents. He has already spent 32 months in jail.

The court had pronounced all the 10 people guilty in one of the biggest corporate scandals involving an Indian company. Raju and former employee G Ramakrishna were also found guilty under section 201 (causing disappearance of evidence of offence) of IPC by special judge BVLN Chakravarthi, in the case probed by CBI.

Except Raju’s brother B Suryanarayana Raju and former internal chief auditor V S Prabhakar Gupta, all the others eight accused were found guilty under IPC sections 467, 468, 471 and 477A, relating to forgery of security, forgery for purpose of cheating and falsification of accounts, according to V Chandrashekhar, superintendent of police, CBI Hyderabad Zone. Charges against Raju and others include criminal conspiracy and forgery of valuable security carrying minimum punishment of ten years imprisonment and maximum of life sentence.

All the ten accused were present in the court, where media was not allowed, when the verdict was pronounced. After pronouncing the order, the judge directed the CBI to take all the accused into custody.

Around 3,000 documents were marked and 226 witnesses examined during the trial that began nearly six years back. Besides Ramalinga Raju, the others accused are – B Rama Raju, former chief financial officer Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and Satyam’s former internal chief auditor VS Prabhakar Gupta.

Satyam was purchased by Mahindra & Mahindra owned company Tech Mahindra in April, 2009. (NSS)

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