Accusing that senior TDP leader and its MLC Somireddy Chandramohan Reddy is having more than Rs 500 crore worth assets in foreign countries, the YSRCP demanded a CBI probe into his financial transactions.

YSRCP MLA Kakani Govardhan Reddy alleged that Somireddy had invested in many companies of countries like Singapore, Malaysia and Hong Kong. Questioning where Somireddy who always claimed to be poor, had gotten all these assets from, he said that these financial transactions are going on in foreign countries in the name of his family members. He also shown to the media some documents related these transactions.

According to him, Somireddy had purchased Rs 140 crore worth properties in Singapore, Malasia and Hong Kong between 2001 and 2004. At the same time, Rs 350 crore worth transactions were done in various banks. He alleged Somireddy is also having luxurious buildings in these countries, besides having memberships in those countries clubs.

He said that he would complain to Union Finance Minister Arun Jatiley about these crores of rupees worth financial transactions seeking CBI probe. These transactions since few years were not shown in Income Tax filings, he added.

However, Somireddy strongly denied these allegations and said that he would quit from politics if these are proved. Stating that he had never went foreign countries on personal works, he said he had visited only on behalf of the government. Moreover, he alleged that it was YS Jaganmohan Reddy and Govardhan Reddy are having large scale illegal properties.