M.S. Rao

The Chief Minister YS Jagan Mohan Reddy indulged in multiple times looting the public money in the name of allocating lands to private companies, particularly for his relatives, accused the TDP AP President Kinjarapu Atchannaidu, in a press release on Tuesday.

Atchannaidu explained that, “Jagan Reddy used different companies to take the lands from the State government at a very cheap price, when his father YS Rajasekhar Reddy was chief minister. Then the companies took loans from the banks by mortgaging the lands. They did not commence any project as they promised while taking lands from the government. After that, they did not repay the money to the banks. Further, they went to the banks and said that they could not repay the money and hence auction the lands. Now, the banks are auctioning the lands at a very minimum price. Again, the same Jagan Reddy’s persons are purchasing the lands with a different company name.”

The TDP leader alleged that, during the regime of YS Rajasekhar Reddy, Jagan Reddy ensured to allocate nearly 10,000 acrs of lands to Lepakshi Knowledge Hub Private Limited through Indu group of companies. Later, the same companies took thousands of crores of loans from the banks but they did not start production. After that, they approached banks and said that they could not repay the money and sell the lands. Now, the banks put these lands for auction at a very low price. Again, the lands are purchasing by Earthin Projects Limited, which is Jagan Reddy’s relative’s company, Atchannaidu alleged.

Atchannaidu said that Naren Ramanujula Reddy Pochima Reddy, who is Jagan Reddy’s relative, is one of the directors in the Earthin Projects Limited.

Explaining all these, Atchannaidu demanded Jagan Reddy to stop looting public money repeatedly. He said that the government should take decisions impartially and transparently.