Industrialist Syam Prasad Reddy, the MD of Indu Projects Ltd, had reportedly siphoned off more than 135 acres of prime land which was then worth Rs 1,500 crore in Greater Hyderabad during the tenure of YS Rajasekhara Reddy on the pretext of developing villas along with the AP Housing Board.
The Central Bureau of Investigation has reportedly mentioned this in its fresh charge sheet filed in the Jagan assets case yesterday. Syam Prasad Reddy, who is already facing two CBI cases, hasn’t built any villas but made investments in firms belonging to Jaganmohan Reddy.
And he also reportedly gave Rs 25 crore worth two-acres in Gachibowli to Y V Subba Reddy reportedly as quid pro quo. CBI has stated that these plots were sold away without construction of any villas and without even developing this land.
YV Subba Reddy was reportedly ensuring that thing get done faster in the government. There are reports that this case is now crucial and it may be difficult for Jagan to escape wrath of justice in case CBI is able to prove this case.
