Vijay Sai Reddy

The Institute of Charted Accountants of India (ICAI) has mentioned that YCP leader Vijayasai Reddy is a mole to the CA community in India. They added that Vijayasai misused his profession for personal gains and summoned him to appear for investigation on October 23. But he went to Telangana high court and got a stay.

ICAI cited that Vijaya Sai had a role to play in Jagan’s disproportionate assets by coordinating with Aurobindo Pharma, Ramki Pharma, Vanpic Projects, and Dalmia Cements, as mentioned in the CBI case.

ICAI prepared reports in 2017, 21, and 22. In all three reports, it is mentioned that Vijaya Sai is at fault.

It is also reported that Vijaya Sai pressurized Jayalakshmi Textiles president Kannan and an NRI named Madhav Ramachandra to invest Rs 5 crores and Rs 19.66 crores respectively in Jagathi Publications, owned by Jagan. Both the victims didn’t get the money back.

ICAI mentioned that Vijaya Sai still has an active CA practice certificate and it is wrong on his side to use the profession to gain personal benefits and also help Jagan amass funds, as cited in the CBI case.