India Cements MD violated FEMA norms: CBI to HC

The CBI, which is investigating into the disproportionate assets case of YSR Congress chief Y S Jaganmohan Reddy , on Thursday told the Hyderabad High Court that N Srinivasan, managing director of India Cements, an accused in the case, sold away the shares he acquired in Bharati Cements (a Jagan firm) to a French company .