Senior Telugu Desam Party (TDP) leaders on Monday filed a petition in the AP High Court seeking orders to prosecute Y S Jaganmohan Reddy under the provisions of the Prevention of Corruption Act and the Prevention of Money Laundering Act.
In their petition, senior leaders K Yerrannaidu, P Ashok Gajapathi Raju and Byreddy Rajasekhara Reddy charged the Centre, state, CBI and the ACB with inaction in proceeding against Jagan. His assets are a `result of the influence of his CM father between 2004 and 2009' at the cost of the state exchequer, they charged in the petition. The Senior TDP Leaders are forgetting that it was TDP which had given lands at the throw away prices to the corporates and Chandra Babu Naidu made investments in Malaysia and Dubai and he has got no right to allege the centre and the state government of being inactive in the case of Jagan Mohan Reddy. The IT dept has already served notices to Jagan companies and the IT dept will look into it. If that is the case, the the govt. should also order enquiry into the alleged dealings of Chandra Babu Naidu and other senior TDP leaders for the wealth they amassed during his regime. Being a responsible party, they should restrain themselves from making such statements.
According to them, Jagan influenced his father to dole out important licences, permits, mines, land allotments, etc., to various private individuals who in turn purchased shares from Jagan's insignificant companies at exorbitant rates as a quid pro quo.
The TDP petition says that the income tax department was not convinced as to how Jagan, who had invested only Rs 73 crore in Jagathi Publications, the publishers of Sakshi newspaper, could sell ten percent of this company shares to various individuals for a whopping sum of Rs 300 crore. Hence, it said, the officials treated Rs 277 crore of this as income and slapped an IT notice on Jagan asking him to pay an additional tax of Rs 122 crore.
Moreover, the petition says, companies like Matrix Labs, PVP Business Ventures, Hetero Group, Aurobindo Pharma, Ramky, etc, which benefited by way of securing SEZs, lands, industrial licences, etc., had invested in Sakshi to a tune of Rs 1246 crore though the latter has made an accumulated loss of Rs 349 crore. In return, thousands of crores of rupees worth lands and other permissions and other public assets were doled out to these and several other companies, the TD leaders alleged.
Sandur Power, belonging to Jagan, played a key role in routing and rerouting of this money into Jagan companies through various hawala and laundering activities, they said.
The petition also pointed out Jagan's Classic Realty purchasing a Rs 500 crore worth commercial complex of Manthri Developers company in Bengaluru for only Rs 206 crore in a single deal. In return, the petition says, Manthri Developers were given 250 acres of prime land at Gachibowli in Hyderabad at just Rs 20 lakh per acre while the original market value was more than Rs 1.5 crore per acre.
Apart from Sakshi newspaper and TV channel, Jagan's other companies like Bharathi Cements, Classic Realty Private Ltd of Bengaluru and Sandur Power were also made respondents in the case by the petitioners.
In their petition, senior leaders K Yerrannaidu, P Ashok Gajapathi Raju and Byreddy Rajasekhara Reddy charged the Centre, state, CBI and the ACB with inaction in proceeding against Jagan. His assets are a `result of the influence of his CM father between 2004 and 2009' at the cost of the state exchequer, they charged in the petition. The Senior TDP Leaders are forgetting that it was TDP which had given lands at the throw away prices to the corporates and Chandra Babu Naidu made investments in Malaysia and Dubai and he has got no right to allege the centre and the state government of being inactive in the case of Jagan Mohan Reddy. The IT dept has already served notices to Jagan companies and the IT dept will look into it. If that is the case, the the govt. should also order enquiry into the alleged dealings of Chandra Babu Naidu and other senior TDP leaders for the wealth they amassed during his regime. Being a responsible party, they should restrain themselves from making such statements.
According to them, Jagan influenced his father to dole out important licences, permits, mines, land allotments, etc., to various private individuals who in turn purchased shares from Jagan's insignificant companies at exorbitant rates as a quid pro quo.
The TDP petition says that the income tax department was not convinced as to how Jagan, who had invested only Rs 73 crore in Jagathi Publications, the publishers of Sakshi newspaper, could sell ten percent of this company shares to various individuals for a whopping sum of Rs 300 crore. Hence, it said, the officials treated Rs 277 crore of this as income and slapped an IT notice on Jagan asking him to pay an additional tax of Rs 122 crore.
Moreover, the petition says, companies like Matrix Labs, PVP Business Ventures, Hetero Group, Aurobindo Pharma, Ramky, etc, which benefited by way of securing SEZs, lands, industrial licences, etc., had invested in Sakshi to a tune of Rs 1246 crore though the latter has made an accumulated loss of Rs 349 crore. In return, thousands of crores of rupees worth lands and other permissions and other public assets were doled out to these and several other companies, the TD leaders alleged.
Sandur Power, belonging to Jagan, played a key role in routing and rerouting of this money into Jagan companies through various hawala and laundering activities, they said.
The petition also pointed out Jagan's Classic Realty purchasing a Rs 500 crore worth commercial complex of Manthri Developers company in Bengaluru for only Rs 206 crore in a single deal. In return, the petition says, Manthri Developers were given 250 acres of prime land at Gachibowli in Hyderabad at just Rs 20 lakh per acre while the original market value was more than Rs 1.5 crore per acre.
Apart from Sakshi newspaper and TV channel, Jagan's other companies like Bharathi Cements, Classic Realty Private Ltd of Bengaluru and Sandur Power were also made respondents in the case by the petitioners.
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