India Cements chief Srinivasan appears for CBI grilling

N Srinivasan, chairman of the Board for Control of Cricket in India (BCCI), today appeared for questioning by the Central Bureau of Investigation in Hyderabad in his capacity of India Cements managing director, in connection with the disproportionate assets cases against YSR Congress chief Jaganmohan Reddy.

The bureau is currently questioning Srinivasan at the Dilkusha Guest House in the Andhra Pradesh capital.

The CBI believes India Cements invested heavily in firms promoted by 'Jagan', an MP from the Kadapa constituency, when his late Y S Rajasekhara Reddy was the state's chief minister. In return, he was granted huge water allocations after rules were bent by Jagan and his father.

Some other cement companies are also likely to be asked about water and limestone allocations made to them during the tenure of the popular 'YSR' as chief minister.

Jagan is currently in judicial custody till 25 June.

India Cements has meanwhile issued a statement saying, "We have received a notice in the context of allocation of water towards expansion of capacity of two of our plants in Andhra Pradesh. Our senior officials have already met officials of the department in the past and have submitted all the required information sought by them.

We are confident that the matter will be resolved at the earliest since water allocation to our units was as per the industrial policy of the Andhra Pradesh government."