AP planning commission DY.Chairman Kutumba rao exploded a bomb today by making strong allegations on Modi during Essar oil and Roseneft deal.
The deal:
Essar Global Fund Limited is an Indian conglomerate group and this debt-laden company sold its Essar Oil unit to Russia’s Rosneft, giving the energy giant a gateway into the world’s fastest growing fuel market. On October, 2016, Rosneft bought 49% stake in Essar Oil of India, along with Russian investment fund United Capital, in a deal worth $13 billion. It was one of the largest inflow of foreign direct investments into India.
Kutumba Rao allegations:
Kutumba Rao made strong allegations on Modi and indicated he has direct involvement in this scam. His allegations as below:
- As per 2016 balance sheet, Essar oil had worth of only Rs 3500 crore. How come it was sold for Rs. 75,000 crore in December 2016?
- Essar was acquired by Roseneft and equities of Roseneft were bought by a Qatar company and another company from China bought equities from this Qatar company. Later, China government arrested these representatives of the China company and Modi went to China during that time.
- The Russian minister who was part of this deal also is now in jail.
- Entire deal happended in the presence of Modi and the deal was shown as G2G (Government to Government) deal while it was just B2B (business to business) deal.
- Investors lost because of this deal.
- India received no tax income from this deal.
Kutumba Rao also told, he has got all required evidences and information regarding this scam and will reveal all the info soon. Revealing this info exactly on the day of Parliament sessions is really a master stroke. But we’ll have to wait and see how the political parties across the country will respond to this.
