He is alleged to have misused the office of his father, late YS Rajasekhara Reddy, to get investments for his business empire from various beneficiary companies.
The CBI, probing into alleged disproportionate assets of YSR Congress chief and Kadapa MP YS Jaganmohan Reddy, is likely to submit its preliminary report to Andhra Pradesh High Court on July 26, a senior official said.
The high court on July 12 directed the central agency to submit within two weeks a preliminary report into the allegations that Jagan misused the office of his father, late YS Rajasekhara Reddy, to get investments for his business empire from various beneficiary companies.
"Following the high court directive, a preliminary investigation is going on and 24 investment companies, which invested in Jaganmohan's businesses, were issued notices and almost all of them have responded to it. Now the preliminary probe report will be submitted before the court on July 26," a senior CBI officer said.
The CBI on July 16 had issued notices to 20 investment companies and subsequently to four more companies which are believed to have invested in the entities owned by Jagan.
Responding to the notices, 23 companies (that have invested in Jagan's firms) had expressed their views and submitted documents, apart from responding to questions pertaining to their financial details, sources said.
Among the representatives of the firms who appeared before the CBI Joint Director (Hyderabad Zone) VV Lakshmi Narayana, included senior officials of Jagati Publications, owned by Jagan himself.
Dealing with three writ petitions, including a letter-cum-petition filed by Congress MLA and state Textiles Minister, P Shankar Rao, and separate petitions filed by Telugu Desam Party leaders, a division bench comprising Chief Justice Nissar Ahmed Kakru and Justice Vilas Afzulpurkar, directed the CBI to submit a preliminary report whether or not any case was made out.
The complaints alleged that Jagan acquired assets worth hundreds of crores from various companies and individuals as a quid-pro-quo for the land allotted and licences granted to them at cheaper prices for various activities when his father YS Rajasekhara Reddy was chief minister between 2004 and 2009.
They further alleged many companies received undue benefit through questionable methods from the state government.
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