Mee Thoughts?

[rachaa at peaks]

[size=5][b]Has CBN invested in Ramoji group via Reliance?[/b][/size]


Hyderabad, Oct 18: While the late Chief Minister Dr. Y S Rajasekhara Reddy’s wife and Puivendula MLA Vijayalakhsmi made several allegations against the former Chief Minister and TDP chief N. Chandrababu Naidu, in her 2,224 page Public Interest Litigation in the High Court, the charge she made against Ramoji Rao and Mukhesh Ambani’s Reliance group appears more substantial than her other charges.

The charge against Vijaymma’s son Y S Jaganmohan Reddy was that several investors had pumped in their money in his companies as a quid pro quo for favours they have received from his father and the then Chief Minister Dr. Y S Rajasekhara Reddy. Now Vijayamma has leveled a similar charge against Chandrababu and Ramoji Rao. Her charge is that the Reliance group has purchased shares of the Ramoji group (which was in actual financial difficulties) at the rate of 5 lakh 36 thousand rupees per a hundred rupees share. “They are finding fault with Bharati cements’s shares of Rs. 10 being purchased for just Rs. 300. Then how did the Reliance Company value the Rs. 100 share of the Ramoji group at Rs. 3.36 lakhs and invested Rs. 2,600 crores, YSR Congress leaders are now questioning. The YSR Congress leaders are stating that the investment actually belonged to Chandrababu Naidu and the Reliance group has invested in the Ramoji group on his behalf as quid pro quo for the state under Chandrababu Naidu’s regime not bidding for exploring gas in the Krishna Basin and thus allowing Reliance to have the gas all for itself.

Facts of her allegation would soon be clear, as the High Court is likely to examine the petition and take a decision on its admissibility tomorrow.