Fighting Injustice in Polepally SEZ

…more than courage it takes WILL to stand up against injustice !

Andhra Pradesh political war gets personal

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(Polepally – Jadcherla SEZ resulted in a lot of ‘Development’ for a select few in power. Know more about them from this news report)

HYDERABAD: UNPA convenor and TDP president N Chandrababu Naidu on Sunday charged AP chief minister YS Rajasekhara Reddy of misusing his office and forcing corporates to invest in his son’s newspaper venture in return for favours.

These include promoters of a clutch of pharma, real estate and infrastructure companies connected to the state, who benefited from land allotments for SEZ projects and other favours, the former chief minister said.

Some of the names in the list of 20 companies who were allotted shares of Rs 10 face value at a premium of Rs 340 each for a stake in the newspaper include those of promoters of India Cements Ltd, Lanco Group, Aurobindo Pharma, Hetero Drugs, Trident Life Sciences, and investment companies of former Matrix Labs founder N Prasad, Alpha Group and Gilchrist Investments Pvt. Ltd.

Most of these companies were given land in Jadcherla, Naidu said releasing documents available from the Registrar of Companies.  The equity of the newspaper is put at Rs356 crore. The TDP leader also charged the chief minister of similar arm twisting in raising funds for his son’s cement enterprise, Raghuram Cements in Kadapa district forcing some 14 corporates to put in money to kickstart the company.

“This is an unprecedented abuse of office by YS Rajasekhara Reddy. It is a shame the Congress is tolerating YSR while it sacrificed leaders like AR Antulay and N Janardhan Reddy for lesser sins in the past,” Naidu said.
Chief minister Y S Rajasekhara Reddy rubbished the charge: “The TDP tried to find fault even with the power generation enterprise of my son in the past and failed to prove anything.”

His son YS Jaganmohan Reddy, chief editor of Sakshi, said all details were with the registrar of companies. “Naidu should note Sakshi company was formed long before the SEZ policy was announced and land allocations were made,” he said in a signed article in Sakshi.

Courtesy: DNA India Newspaper

April 07, 2008 

URL: http://www.dnaindia.com/report.asp?newsid=1158809

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Written by dilkibaatein

April 20, 2008 at 9:06 am

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