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India Cements head Srinivasan quizzed again

The Vice Chairman and Managing Director of India Cements Ltd (ICL) N. Srinivasan appeared before the Central Bureau of Investigation (CBI) for the second time this week in connection with the probe into the disproportionate assets case against YSR Congress president Y.S. Jaganmohan Reddy.

He first appeared before the probe agency on Monday as a witness and he was told by the CBI officials to come for another round of examination for giving further clarifications on the allotment of water and limestone mines by the Y.S. Rajasekhara Reddy Government in 2008 and 2009. He was questioned for over six hours on that day.

On Saturday, Mr. Srinivasan accompanied by his legal aides arrived at the Dilkusha Guest House, the makeshift CBI office for Jagan assets case, at 10.30 am. His questioning is likely to stretch till the evening on Saturday too.

In the FIR filed in the Jagan assets case and in the remand report after arresting Mr. Jagan, the CBI stated that ICL had invested over Rs. 140 crore in Jagathi Publications and other Jagan Group companies in lieu of benefits received from the YSR Government such as getting allocation of water to its cements plants without following norms and getting concessions in royalty payment for extension of limestone mining leases for another 25 years.

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Posted by on Jun 23 2012. Filed under Indian News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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