Investments Linked To Jagan Reddy Firms

[hugoboss]

The quid-pro-quo (payment for some benefits) investments made by Nimmagada Prasad into Jagan Reddy firms included:

Sandur Power Company: 21.42 lakh shares at Rs. 650 each (Rs. 140 crores)
Carmel Asia Holdings : Rs. 20 crore
Bharati Cements : Rs. 244 crore
Silicon Builders : Rs. 28 crores
Jagathi Publications: Rs. 450 crores (27 crores in Sakshi office building)
Darren Boll Bearings : Rs . 69 crores (a sleeping partner Funka Darren was found sleeping during the illegal transactions. Last know to be seen in Nigera park)

 

The benefits for Prasad's companies included a free allotment of 15,000 acres of land, exemption from stamp duty, seigniorage and other benefits estimated to total over Rs. 1,400 crores.