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Jagan Reddy�s Sikkim power investments under CBI scanner

By Correspondent

GANGTOK, Nov 5 � Lok Sabha MP Jagan Mohan Reddy currently being interrogated by the CBI for financial irregularities and disproportionate assets case, is alleged to be having huge investments in third party names in several private hydropower projects in Sikkim.

The matter came to light when a resident of Gangtok, Anand Lama filed a public interest litigation (PIL) against alleged financial irregularities in the hydropower projects being developed in Sikkim, in the High Court of Sikkim with supporting documents which he procured through RTI applications.

In the said PIL and subsequent investigations by Lama and his lawyers, it was revealed that the 1200 MW Teesta Stage III hydropower project (one of the largest private hydropower projects in the country) being developed at Chungthang in North Sikkim and the 99 MW Panan hydropower project being developed in the Lepcha reserve of Dzongu by Teesta Urja Limited and Himurja Infra Private Limited, has funding and major share holding by Jagan Mohan Reddy.

Lama who had filed a written complaint with CBI New Delhi for investigations in Sikkim, was asked by the Central sleuths to mark a copy to the zonal office of the CBI in Kolkata, since Sikkim comes under Kolkata jurisdiction. However, vide a letter dated October 10, 2011, the Joint Director and head of zone Hyderabad, V V Laxmi Narayan asked Anand Lama to furnish all relevant details of the case for the Hyderabad CBI to initiate investigations in Sikkim.

Lama who already has furnished the details to CBI Hyderabad said that the CBI sleuths are ready to initiate investigations. The investments of Reddy could be anything between Rs 200-500 crore, sources have claimed. Speaking to this correspondent over phone, VV Laxmi Narayan confirmed that after readying the relevant case documents, the CBI Hyderabad are going to launch the investigations at the earliest.

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Jagan Reddy�s Sikkim power investments under CBI scanner

GANGTOK, Nov 5 � Lok Sabha MP Jagan Mohan Reddy currently being interrogated by the CBI for financial irregularities and disproportionate assets case, is alleged to be having huge investments in third party names in several private hydropower projects in Sikkim.

The matter came to light when a resident of Gangtok, Anand Lama filed a public interest litigation (PIL) against alleged financial irregularities in the hydropower projects being developed in Sikkim, in the High Court of Sikkim with supporting documents which he procured through RTI applications.

In the said PIL and subsequent investigations by Lama and his lawyers, it was revealed that the 1200 MW Teesta Stage III hydropower project (one of the largest private hydropower projects in the country) being developed at Chungthang in North Sikkim and the 99 MW Panan hydropower project being developed in the Lepcha reserve of Dzongu by Teesta Urja Limited and Himurja Infra Private Limited, has funding and major share holding by Jagan Mohan Reddy.

Lama who had filed a written complaint with CBI New Delhi for investigations in Sikkim, was asked by the Central sleuths to mark a copy to the zonal office of the CBI in Kolkata, since Sikkim comes under Kolkata jurisdiction. However, vide a letter dated October 10, 2011, the Joint Director and head of zone Hyderabad, V V Laxmi Narayan asked Anand Lama to furnish all relevant details of the case for the Hyderabad CBI to initiate investigations in Sikkim.

Lama who already has furnished the details to CBI Hyderabad said that the CBI sleuths are ready to initiate investigations. The investments of Reddy could be anything between Rs 200-500 crore, sources have claimed. Speaking to this correspondent over phone, VV Laxmi Narayan confirmed that after readying the relevant case documents, the CBI Hyderabad are going to launch the investigations at the earliest.