The CBI on Tuesday told the high court that the then Chief Minister YS Rajasekhara Reddy’s government had allotted Rs 17,000 crore Vanpic project and in return, the beneficiaries have invested Rs 854 crore in Jagan Mohan Reddy’s companies.
The CBI said Vanpic had acquired 12,000 acres of land in the name of the project without any development, employment, or jobs. The farmers were paid only 480 Crore for the lands. The lands were then mortgaged to banks and the company made huge money.
Justice Ujjal Bhuyan on Tuesday held a hearing on the petitions filed by Vanpic and Nimmagadda Prasad seeking quashing of the case registered in the Jagan disproportionate assets case. The petition has been pending for five years and the court finally delivered the final judgment and did not agree to exempt them from the cases.
Vanpic’s counsel argued that the CBI had no documentary evidence to show that the criminal conspiracy in this case. But the CBI counsel says in most criminal conspiracies, there is seldom any direct evidence and courts must, on circumstantial evidence alone, conclude that an offense was committed. The court had agreed with CBI’s view.