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Jagan Reddy remanded in 14-day judicial custody

Hyderabad: YSR Congress chief Jagan Mohan Reddy on Monday was remanded in 14-day judicial custody till June 11 by a CBI court in Hyderabad.

Earlier in the day, 39-year-old Kadapa MP Jagan Mohan Reddy, who was arrested on Sunday, was produced before the CBI court in Hyderabad.

Seeking 14 days police remand, senior CBI counsel Ashok Bhan alleged that Jagan "sent (bribe amount) abroad and got it reinvested in his business through hawala racket".

"Jagan never cooperated in the investigation during the three-day questioning period in true sense," the CBI counsel alleged.

"Jagan can no longer masquerade as a victim of CBI probe. He cannot assail CBI for being victimised. He has hoodwinked the people of a huge sum of money. We will now show the people about his swindling of money. He cannot seek public sympathy He has deprived poor people and caused them irreparable loss and in turn enriched himself by dubious mechanism by sending the funds abroad and getting the same invested in his companies," the counsel alleged.

CBI has charged Jagan under Sections 120-B (criminal conspiracy), 420 (cheating), 409 (criminal breach of trust) and 477A (falsification of accounts) of the Indian Penal Code and Section 13 of the Prevention of Corruption Act.

"Investments to the tune of Rs 1234 crore have been made in his (Jagan's) companies and he himself got enriched by Rs 300 crore. There are certain traces and he did not cooperate on the same," Bhan alleged.

"It is a white collar crime committed by 74 accused, including Jagan, and so far chargesheets have been filed against 24 accused. All the accused in custody (industrialist N Prasad, senior bureaucrat KV Brahmananda Reddy) have revealed certain glaring facts about the case and we have to confront Jagan on the information provided," the CBI counsel claimed.

CBI has sent Letters Rogatory to Mauritius and Luxembourg to get more information as there were alleged investments to the tune of several crores in Sandur Power by Jagan. 

"Luxembourg-based Asian Infra is suspected owner of Sandur Power," the agency submitted.

There are similar transactions in the "exclusive knowledge" of Jagan which will be known only after getting his custody, the CBI counsel said.

"Jagan got enriched enormously in a short span of four years after influencing his father Rajashekhar Reddy, the then Chief Minister of Andhra Pradesh in getting ill gotten money into his own firms from investors who doled out favours as part of quid pro quo," the counsel alleged.

"Some investing companies got allotted thousands of acres of agriculture land in turn of investments after Jagan influenced his father," the agency further alleged.

Further investigations need to be carried out on the role of Jagan with regard to the influence made on his father, the agency said.

India to provide $500 million line of credit to Myanmar

Nay Pyi Taw: India on Monday announced it will provide a $500 million line of credit to Myanmar as the two countries signed agreements on a range of sectors, including air services, beginning a “new journey” of bilateral cooperation. 

On the first visit by an Indian Prime Minister to Myanmar in quarter of a century, Manmohan Singh held “broad-ranging” discussions with Myanmar President Thein Sein on a road map for bilateral cooperation and said New Delhi was committed to Myanmar’s economic development. 

A Memorandum of Understanding for India’s $500 million credit line was signed between Export-Import Bank of India and Myanmar Foreign Trade Bank. The line of credit was agreed upon in October last year when the Myanmar President had visited New Delhi. 

The two countries also signed an air services agreement and an MoU on establishment of a joint trade and investment forum and setting up of border trade centres across the border of India and Myanmar. 

The Prime Minister told President Sein that connectivity remains a major thrust area in India-Myanmar relations while capacity-building in Myanmar was a major priority for India’s development assistance to this country. India pledged to double the training slots of Myanmarese personnel in India. 

“We have embarked on a new journey of bilateral cooperation”, Dr Singh told Sein, adding “we are committed to strengthening our economic and development partnership.” 

Dr Singh told President Sein that India was ready to share with Myanmar its experience of Parliamentary democracy and “we wish you all success in your nation-building efforts and changes you are bringing about,” according to MEA spokesman Syed Akbaruddin. — PTI

No immediate plan to hike diesel, LPG,
kerosene prices: Jaipal Reddy 

NEW DELHI: Still battling the fallout of last week's steep Rs 7.54 a litre hike in petrol price, the government on Monday said it is not considering raising rates of diesel, domestic gas (LPG) and kerosene for the moment.

"We are not considering hike prices of diesel, domestic LPG and kerosene. It is out of question right now," Oil Minister S. Jaipal Reddy told reporters after a meeting called by Finance Minister Pranab Mukherjee to discuss the impact of fuel price hike on inflation.

"I am not going to touch the prices of LPG, diesel, kerosene. Period," Reddy said. — PTI

Mamata to felicitate IPL champs KKR

Kolkata: Elated at the Kolkata Knight Riders' (KKR) maiden Indian Premier League (IPL) title, the West Bengal Government will felicitate the victorious city franchise in a ceremony at the Eden Gardens, said Chief Minister Mamata Banerjee on Monday. "This is a big achievement. The team from the city has won and we are all proud of that. Shah Rukh (Khan) is our brand ambassador and his team has won, so we want to felicitate the winners on behalf of the state government," Banerjee said at the state secretariat.

The IPL champions will also participate in a road show on Tuesday starting from Hazra Crossing in the south of the city and going to the state secretariat, the Writers' Buildings. The show will culminate at the Eden Gardens, where the felicitation ceremony will be organised.

The road show, scheduled to start at 11 a.m. on Tuesday, will witness the participation of many state ministers.

"I will personally welcome the victorious team at the Writers' (Buildings) and then we all head to the Eden Gardens where in a ceremony the team will be felicitated," added Banerjee.

A big cake with KKR's slogan "Korbo, Lorbo, Jitbo re" (We will do it, we will fight it out, we will win it) written on it will be cut, while Bengali band Chandrabindu will perform.

The felicitation ceremony will be open to all and entry to the stadium will be free.

KKR defeated Chennai Super Kings by five wickets on Sunday to lift their maiden IPL title. — IANS 

NEW DELHI: CBSE declared the Class XII results online today for all regions. Students can access their results on http://cbseresults.nic.in/ by entering their roll numbers. The results will also be available through interactive voice response system at 011-24357276 and 011-28127030. Nearly 8.15 lakh students had registered for Class XII exams this year, of which 2.28 lakh were in Delhi.

Though Class X results were declared in the Chennai region first and in other parts on May 24, Class XII results for all regions have been declared together today.