Disproportionate assets: Jagan Reddy faces possible arrest

The noose is tightening around Jagan Reddy. With the CBI arresting a noted Andhra industrialist as well as a former government secretary in the alleged disproportionate-assets case involving the Kadapa MP, Jagan's arrest too now looks imminent, reports CNBC-TV18's Appaji Reddem.

Trouble looms large for former Andhra Chief Minister YSR Reddy's son and businessman Jagan Reddy with the CBI making two key arrests in the disproportionate assets case

CBI has arrested noted industrialist Nimmagadda Prasad, who allegedly invested over Rs 500 crore in Jagan's companies in return for which the-then YSR Reddy government allotted 15,000 acres of land to Prasad's company.

The CBI has also arrested former Andhra Pradesh special secretary KV Bramhananda Reddy for his alleged role in facilitating the illegal allotment of land.

The duo has been remanded to judicial custody till May 30.

Lakshmi Narayana, joint director of CBI says, "The role of these two people was revealed in Vanpic project issue and we have arrested them. We would like to interrogate them to draw further information."

So, the question now is, will Jagan's arrest be next?

"We are still investigating into the issues. At a relevant point of time, we will take a relevant decision", says Narayana.

Jagan is expected to appear before court on the May 28, but he won't be the only one, with the CBI issuing summons to twelve others facing charges in the case to appear before it on the same day, including top officials of Hetero Drugs, Aurobindo Pharma, and Trident Life Sciences.

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