India Cements head Srinivasan quizzed again by CBI

A senior CBI officer said, "He (Srinivasan) is being questioned in the Jagan assets case."

The Central agency had on Monday last quizzed Srinivasan for over six hours with regard to the alleged investments made by his company (India Cements) in the firms promoted by the Kadapa MP when his father late Y S Rajasekhara Reddy was Andhra Pradesh Chief Minister (2004-09).

The agency had earlier alleged Srinivasan's company received huge allocation of water from Krishna and Kagna rivers during the YSR administration after it reportedly issued two Government Orders (GOs) allotting water to the plants of India Cements in Ranga Reddy and Nalgonda districts of Andhra Pradesh.

For the favours it received, India Cements allegedly invested Rs 135 crore in Jagati Publications and other firms owned by Jagan, who is currently in jail here. CBI, probing the assets case against Jagan, had arrested the 39-year-old MP on May 27.

The probe agency, in its three charge-sheets filed against Jagan and others, has alleged that he and his father hatched a conspiracy to defraud the Government, and the State Government granted some favours to certain firms, which made investments in Jagan's businesses as a quid pro quo.