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Major companies such as Ramky Infrastructure, Aurobindo Pharma, Bharati Cements and Hetero Drugs came under the CBI allegedly for making investments in the business ventures of Mr Y. S. Jaganmohan Reddy, MP and President of the YSR Congress Party.
On Monday, the CBI launched a full-fledged investigation into more than 30 companies which have allegedly made these investments, including in Jagathi Publications.
Based on the directive of the AP High Court, the CBI, over the past week, searched these companies and residences of Mr Jaganmohan, Mr Nimmagadda Prasad, founder of Matrix Labs, and Mr Srinivas Reddy, MD, Hetero Drugs.
Important documents are reported to have been seized. The CBI has started a probe. Mr V. V. Laskhminarayana, Joint Director, CBI, told newspersons. “We have formed exclusive teams for the purpose,” he added.
Corporate reaction
Aurobindo Pharma said the company or any of its subsidiaries did not have investments in Jagathi Publications Pvt Ltd or in any of its associate companies.
Stating that CBI had obtained ‘some details', Ramky Infrastructure said, “all transactions and dealings of its group companies are bona fide and as per approved procedures.”
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