Nimmagadda Prasad Taken Into Custody

[golmaal govindam]

[url="http://www.thehindu.com/news/states/andhra-pradesh/article3422909.ece"]http://www.thehindu.com/news/states/andhra-pradesh/article3422909.ece[/url]

[img]http://www.thehindu.com/multimedia/dynamic/01084/HY16NIMMAGADDA_1084731e.jpg[/img]


The Central Bureau of Investigation (CBI) stepped up the pace of its probe in the illegal assets case against Kadapa MP Y.S. Jaganmohan Reddy on Tuesday when it took into custody noted industrialist Nimmagadda Prasad, promoter of VANPIC, and a senior bureaucrat K.V. Brahmananda Reddy. Known popularly as ‘Matrix Prasad' after the pharma company he successfully turned around, Mr. Prasad is named as the 12th accused among 74 in the First Information Report (FIR) filed by the CBI in August last against Mr. Jaganmohan Reddy and others.
CBI officials interrogated 51-year-old Mr. Prasad almost continuously at their temporary office in Dilkusha Guest House since Monday morning, though they allowed him to go at night. He was summoned again on Tuesday and examined throughout the day before being taken into custody. Mr. Prasad is the first industrialist to be taken into custody. In its charge-sheet, the CBI had stated that quid pro quo investments were made in a number of companies floated by the Kadapa MP by those who benefited from the largesse doled out by the then Y.S. Rajasekhara Reddy government. CBI teams searched the residence of Mr. Prasad in Sainikpuri here and Mr. Brahmananda Reddy, who was special secretary of Investment and Infrastructure department, in Habsiguda. The latter is an officer of the Indian Railway Accounts Service, who was Managing Director of A.P. Aviation Corporation when YSR was killed in a helicopter crash.