The independent investigation, conducted by the IT authorities against the genuineness of the investments into the companies owned by the YSR Congress party chief Mr YS Jaganmohan Reddy much earlier before the CBI took up the probe at the behest of the High Court, has now come in handy for the CBI investigation.

The IT authorities have informed the CBI their independent investigation revealed that several firms pumped in investments into the Jagan-owned outfits on quid pro quo basis in return for land allotments made for them when YSR was the chief minister. The IT officials have obviously informed the CBI sleuths that Jagan had managed these land allotments through his chief minister-father.

The IT authorities have also handed over to the CBI the copies of the statements made by the investors such as the Matrix, Aurobindo Pharma, Hetero Group, Ramky and Pennar group of companies on their investments into Jagan companies. Their investigation had established that these companies made the investments into Jagan group at a hefty premium after getting favours from the government in shape of land allotments.

The detailed investigation by the IT has also established that the most of the companies which invested in Jagan group are bogus and non-existent. The CBI is now going to use the IT investigation as a major source to prove the allegations against Jagan.