HYDERABAD: In two separate judgments pronounced on Friday in the quid pro quo case, Chief Justice Ujjal Bhuyan of Telangana high court on Friday refused to accord any blanket exemption to Indu Syam Prasad Reddy, a key accused in the case, from court appearances in one case.
In another case, the judge refused to quash the CBI case against BPR Kumar Babu, an accused in Lepakshi Knowledge Hub (LKH) chargesheet of the case.
CBI, in its 2012 chargesheet, alleged that Kumar Babu allowed the bank account of his company, Cornerstone, to be used for circuitous transfer of Rs 50 crore bribe money. The money travelled from his company to certain companies floated by businessman Nimmagadda Prasad, another accused in the quid pro quo case, and finally landed in firms belonging to AP chief minister YS Jagan Mohan Reddy.
The multiple transactions and transfer of money was done for showing the crime money as fair money, CBI said. The AP government under then chief minister YS Rajasekhara Reddy granted 9,000 acres of land in Anantapur district to LKH floated by Indu Syam Prasad Reddy in 2008. Though no knowledge hub has been developed in the area, Syam Prasad Reddy used this land as security and raised more than Rs 1,000 crore loan and diverted it for some other purposes, the chargesheet alleged. Jagan, Syam Prasad Reddy and Kumar Babu were named as accused in the LKH chargesheet filed by the CBI.