The CBI on Thursday summoned BCCI chairman N Srinivasan in his capacity as managing director of India Cements Ltd.
HYDERABAD: Widening the net in YSR Congress chief Jaganmohan Reddy's disproportionate assets case, the CBI on Thursday summoned BCCI chairman N Srinivasan in his capacity as managing director of India Cements Ltd, asking him to appear before the agency here next week.
The CBI has held that India Cements invested in Jagan-promoted companies and got benefits from the YSR regime in the form of enhanced water allocation for its cement units in the state. Apart from India Cements, the CBI has issued notices to MDs of Penna Cements and Dalmia Cements to appear before it as well. They will have to answer questions about benefits they got in the form of limestone mines in return for investments in Jagan-promoted firms.
While AP cabinet minister Ponnala Lakshmaiah (irrigation minister earlier) is being quizzed by the CBI on water allocation for India Cements, former revenue minister Dharmana Prasada Rao is also to be summoned to explain the limestone mines allotments to the other two cement companies.
Srinivasan, who is BCCI chairman and owner of IPL team Chennai Super Kings, is the vice chairman and MD of India Cements Ltd. The CBI has charged that the company received huge water allocations during the YSR regime that enabled it to double its production. In all, the YSR regime issued two government orders allotting additional water to the plants of India Cements in Ranga Reddy and Nalgonda districts.
While the allocation for Nalgonda plant was enhanced from three lakh gallon to 10 lakh gallon per day, the same was raised from three lakh gallon to 13 lakh gallon per day for the plant in Ranga Reddy district. The CBI is also probing whether, in the process of allotment of water, the YSR government violated the Bachawat tribunal norms on water sharing between Andhra Pradesh and Karnataka.
The Nalgonda plant was using water from Krishna while the one in Ranga Reddy was drawing from the Kagna river. According to CBI's FIR, India Cements invested Rs 135 crore in both Jagati Publications and Bharati Cements, the two Jagan firms, as quid pro quo for water allocation.
Although Srinivasan has to appear before CBI next week, the date is under wraps to help avoid media glare. Coromandel King, Sankar Sakthi and Raasi Gold are the high strength cement brands manufactured by India Cements. Visakha Cement Industry Ltd, based in Andhra Pradesh, is a unit of India Cements.
Penna Cements chairman Pratap Reddy and Dalmia Cements MD J H Dalmia too were summoned by the probe agency. These two companies were allotted huge extent of limestone mines and in return, Penna Cements invested Rs 68 crore and Dalmia Cements invested Rs 95 crore in the Jagan firms.
The CBI has held that India Cements invested in Jagan-promoted companies and got benefits from the YSR regime in the form of enhanced water allocation for its cement units in the state. Apart from India Cements, the CBI has issued notices to MDs of Penna Cements and Dalmia Cements to appear before it as well. They will have to answer questions about benefits they got in the form of limestone mines in return for investments in Jagan-promoted firms.
While AP cabinet minister Ponnala Lakshmaiah (irrigation minister earlier) is being quizzed by the CBI on water allocation for India Cements, former revenue minister Dharmana Prasada Rao is also to be summoned to explain the limestone mines allotments to the other two cement companies.
Srinivasan, who is BCCI chairman and owner of IPL team Chennai Super Kings, is the vice chairman and MD of India Cements Ltd. The CBI has charged that the company received huge water allocations during the YSR regime that enabled it to double its production. In all, the YSR regime issued two government orders allotting additional water to the plants of India Cements in Ranga Reddy and Nalgonda districts.
While the allocation for Nalgonda plant was enhanced from three lakh gallon to 10 lakh gallon per day, the same was raised from three lakh gallon to 13 lakh gallon per day for the plant in Ranga Reddy district. The CBI is also probing whether, in the process of allotment of water, the YSR government violated the Bachawat tribunal norms on water sharing between Andhra Pradesh and Karnataka.
The Nalgonda plant was using water from Krishna while the one in Ranga Reddy was drawing from the Kagna river. According to CBI's FIR, India Cements invested Rs 135 crore in both Jagati Publications and Bharati Cements, the two Jagan firms, as quid pro quo for water allocation.
Although Srinivasan has to appear before CBI next week, the date is under wraps to help avoid media glare. Coromandel King, Sankar Sakthi and Raasi Gold are the high strength cement brands manufactured by India Cements. Visakha Cement Industry Ltd, based in Andhra Pradesh, is a unit of India Cements.
Penna Cements chairman Pratap Reddy and Dalmia Cements MD J H Dalmia too were summoned by the probe agency. These two companies were allotted huge extent of limestone mines and in return, Penna Cements invested Rs 68 crore and Dalmia Cements invested Rs 95 crore in the Jagan firms.
