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HC quashes case against Srinivasan
Justice B Sivasankara Rao of the High Court of Judicature at Hyderabad quashed the case filed by the CBI against India Cements\' MD and former chairman of BCCI N Srinivasan on Friday.
Hyderabad: Justice B Sivasankara Rao of the High Court of Judicature at Hyderabad quashed the case filed by the CBI against India Cements' MD and former chairman of BCCI N Srinivasan on Friday.
Observing that Srinivasan in his individual capacity was not privy to the agreements entered into by his company with the then Andhra Pradesh government, the judge set aside the cognizance orders issued by the trial court in respect of the chargesheet filed by the CBI against both Srinivasan in his individual capacity and the company.
The judge in his order made it clear that the case against the company will continue. The CBI had stated in the chargesheet that India Cements invested about Rs 40 crore in Jagathi Publications, which owns Sakshi newspaper and Sakshi Telugu news channel, and over Rs 100 crore in other firms, including Bharathi Cements, originally promoted by Y S Jaganmohan Reddy.
