CBI chargesheet against Jagan Reddy

HYDERABAD: The Central Bureau of Investigation on Saturday filed a chargesheet against Jagan Reddy, son of former chief minister Y S Rajasekhara Reddy, and 12 others in a disproportionate assets case.

The CBI, which filed its chargesheet in a Hyderabad court on Saturday, named Aurobindo Pharma, Hetero Drugs and Trident Technologies among the 13 accused. Jagan Reddy, now an MP, figures first on the list.

Reddy is accused of amassing wealth by leveraging his father’s position as chief minister to raise money from industrialists in a “political favours-for-equity quid pro quo”.

He owns several businesses, including media house Sakshi that owns a newspaper and a television channel, and Bharathi Cement, where he sold 51% to French cement-maker Vicat SA in April 2010.