New facts have emerged in the illegal properties case involving the YSR Congress president Mr YS Jaganmohan reddy, APIIC-Emaar land scam and the illegal mining case involving the former Karnataka Minister Gali Janardhan reddy.

CBI sleuths, probing the three scams, are getting the clues that the entire edifice of all the three scams lies in the Jagan factor only.

It is now clear that the CBI has arrested Jagan’s cousin and his right hand man Sunil Reddy only after getting information from the international diamond businessman Mr. Dileep Mehta, son of Arun Mehta, a well known name in diamond business at the national and international level.

The CBI has arrested Sunil Reddy on Monday but one day before his arrest Mr Mehta, head of the Rosy Blue Diamonds, was called to Hyderabad and grilled by the probing officials. The country’s apex investigating agency had revealed the information of questioning Mehta only after the arrest of Sunil reddy. Sunil Reddy, the young business man who looked after Jagan’s financial affairs, was arrested based on the clues given by the diamond merchant.

The CBI has also come to know that Mehta’s company Che investments had given an unsecured hand loan of Rs. 2 Cr to Jagan even before 2004. Later, Sha Mehta Holdings Pvt ltd, a subsidiary company of Rosy Blue Diamonds, bought redeemable preferential shares worth Rs.4 Cr in Sandur Power.

Sunil Reddy played a key role in the transfer of funds to Chennai based companies in which he and Bharati reddy, wife of Jagan, had shares. Investments also flowed into Jagan companies from several brief case companies from Mauritius and Sha Mehta Holdings withdrew from Sandur Power after it got investments from Mauritius.

The CBI understands that Sunil Reddy had made transitions with Dileep Mehta and its probe has been centering on the suspected links Jagan has had with Mehta. (JUBS)