HYDERABAD: Two congress MLCs KR Amos and Yadav Reddy have petitioned the Andhra Pradesh High court seeking a full-fledged investigation into the financial affairs of YS Jagan Mohan Reddy and the various companies that have invested in his ventures and also the chartered accountants of his firms for various offences including money-laundering. In a petition running into 100 pages, the two Congress MLCs said that four companies came into being after YS Rajasekhara Reddy came to power, were flooded with huge investments. ''The chain transaction of promoting companies and attracting investments is possible only because all the prospective investors are the beneficiaries of the munificence of the YSR government,” the petition said. The petitioners also stated that that the Central government '‘depended solely on him (YSR) for its existence and continuance in terms of electoral strength and canalisation of funds for political purposes.'' Referring to Ms. Sandur Power Company, the petitioners alleged that the company which was defunct till 2004 received `125 crore in 2005 from two investment companies and that ‘all recipients of YSR government largesse stood in line to pick up its shares with huge premiums enabling YS Jagan to float a series of companies.''The petition is likely to be listed any time after the bench headed by the chief justice is constituted.
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