CBI, which is conducting a preliminary inquiry into the alleged illegal accumulation of wealth by the YSR Congress chief YS Jaganmohan reddy, has reportedly come to a conclusion that there existed prima facie evidence against Jagan to proceed further.

The team of CBI officials, who went to their homes late night on Saturday, returned to their office early morning on Sunday to finish the work as they are supposed to submit the repot in a sealed cover to the AP High Court by Tuesday. Sunday also, the CBI team worked whole day to comply with the orders of the High Court.

During the process of their preliminary inquiry, the investigating team has reportedly come to know that several companies including the GMR group, the builders of the International airport at Shamshabad near Hyderabad, had invested in Jagan companies after getting favours from the  government either in shape of lands or heavy contracts. GMR group has reportedly invested Rs.50 Cr in Jagan companies. However, the spokesman of the GMR group has denied the allegation.

Midwest, Pallava and Gimpex organizations which had acquired the mining rights on granite quarries at Cheemakurthi in Prakasam district had invested to the tune of Rs.200 Cr in Jagan companies, according to sources.

Similar to 2G Spectrum scam, some companies had given loans to the tune of hundreds of crores of rupees to Jagan group after obtaining favours from the government. Some Kolkata companies, which had invested in Jagan group, have not even proper addresses and offices, according to sources.

CBI is now gearing up to submit the report to the High Court before 5 pm on Tuesday.