ED raids on Hetero exposed CM YS Jagan Mohan Reddy's frauds: TDP

Mangalagiri: Former minister and TDP leader Bandaru Satyanarayana Murthy on Friday expressed concern that Chief Minister YS Jagan Mohan Reddy has made Andhra Pradesh bankrupt in his two-and-a-half years rule while the companies of his family and his benamis were making huge profits with unaccounted money.

Satyanarayana Murthy said that the reported seizure of Rs 100 crore black money in the ED searches on Hetero Group revealed how Jagan Mohan Reddy was misusing his authority in AP to favour his benami companies. In 2017, the income of Hetero company was Rs 2,360 crore but it has gone up to Rs. 5,389 crore now.

Addressing a press conference here, the TDP leader stressed the need for the Central government to order a detailed probe into all the shady and illegal transactions of the Jagan Reddy benami companies. Everybody knew how Hetero, Aurobindo and Ramky companies have been acting as the right and left companies for the Jagan family for many decades. The meteoric growth of these companies required a deeper inquiry by the Central agencies, he observed.

Satyanarayana Murthy said that the AP treasury was nil while the YSRCP leaders' pockets were full and Jagan's benami companies became richer. In the past two-and-a-half years, the Jagan Mohan Reddy government brought Rs 2.50 lakh crore loans. There was no account for their expenditure. On the other hand, the Chief Minister's personal wealth was increasing multiple times. The values of government properties were falling while Jagan's Bharati Cements' shares were going up.

The TDP leader recalled that Hetero company was an accused number 1 in several quid pro quo cases. Jagan Mohan Reddy gave 108 acre government lands in Visakhapatnam to Hetero at very cheap rates after he became the CM. Another nine acre land worth Rs 265 crore was given in Baypark in Vizag.

Condemning 'large scale corruption', Satyanarayana Murthy said that India Cements' Srinivasan, Nimmagadda Prasad and several bigwigs were in the list of Jagan's illegal beneficiaries. This was why Nimmagadda Prasad's confidante Zulfi Ravdjee was made the AP government's special representative to the Middle East. The Chief Minister should explain why he was not able to increase the revenue of the AP state when he was able to boost the incomes of his family and friends' companies, he said.

The TDP leader recalled how Jagan resorted to vicious propaganda saying that Rs 6 lakh crore corruption took place during the TDP rule. He became the CM 30 months ago but could not prove any of such allegations. Hetero and Aurobindo were not making medicinal drugs but they were just hoarding black money of , he alleged and urged the Prime Minister to focus on the ED searches and raids going on at Jagan's benami companies.