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Jagan Mohan Reddy's legal troubles over his considerable fortune are escalating. The CBI, which is investigating the influential MP's massive wealth, has reportedly asked a court for permission to search Mr Reddy's properties. Mr Reddy is one of India's wealthiest politicians. In April this year, he declared assets worth Rs. 365 crores.
A case has been filed against him by rival politicians led by minister P Shanker Rao who is from Mr Reddy's former party, the Congress. Mr Reddy launched his own party, the YSR Congress, earlier this year. The case against Mr Reddy alleges that his businesses profited vastly when his father, YSR Reddy, was Chief Minister. YSR died in September 2009 when his helicopter crashed. He was then head of the Andhra Pradesh government.
Jagan Mohan Reddy's disenchantment with the Congress was triggered by the party refusing to name him as the new Chief Minister. The CBI has filed an FIR with a local court asking for sanction to search Mr Reddy's homes and offices. The investigation into Mr Reddy's wealth was sanctioned by the Andhra High Court. Mr Reddy has appealed to the Supreme Court to stop the inquiry.
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