CBI takes a cue from taxman to nail Jagan

HYDERABAD: Stepping up the pace of its probe into YSR Congress chief YS Jagan Mohan Reddy’s assets, the CBI has collected documents and records pertaining to his companies from the Income Tax department, the Enforcement Directorate and the Registrar of Companies (RoC).The CBI, which has been given two weeks by the High Court to conduct a preliminary enquiry, is likely to seek its permission for a full-fledged probe into the matter.Sources associated with the investigation told Express that soon after serving notices to 20 investors, who pumped money into companies owned by the Kadapa MP, the CBI called the Income Tax officials to their office at Sultan Bazar and collected records relating to the assessments and enquiries made over the last three years. Extensive discussions also took place between the CBI and senior I-T officials. Simultaneously, the CBI sought and obtained information from the Enforcement Directorate as the latter’s Bangalore unit had earlier conducted enquiries about certain Bangalore-based firms who had invested in Jagan’s companies. Sources said the material supplied by the I-T department will be the basis of the investigation as they had done the assessments for Jagan’s companies for the financial year 2008-09. Following the assessment, the I-T department had raised a demand (to pay tax) that Jagan pay taxes to the tune of Rs 122 crore. It is learnt that Jagan had gone in for an appeal against the I-T orders though he paid Rs 25 crore “under protest”. “The order passed by the I-T department (with regard to the demand of Rs122 crore) has not been properly framed and is unlikely to stand the test of an appeal,” an official said.However, given the magnitude of the case, the CBI is likely to seek permission from the court for a full-fledged probe into Jagan’s assets.Already, notices have been served on 20 investors who invested in Jagan’s companies and they would be sending their replies by Tuesday. “The principal officials of these companies will be summoned,” the sources said adding that notices would be served on 30 more investors shortly.Sources said the CBI headquarters is in constant touch with its officials here in the State capital and are monitoring day-to-day developments in the case.