Lingamaneni group refutes allegations of BS Rao

Vijayawada: Lingamaneni Ramesh, chairman of LEPL Projects condemned the allegations levelled by Chaitanya Group's head B S Rao who said that Ramesh cheated him of Rs 900 crore.

In a statement here on Tuesday, Ramesh said that there was a dispute over Rs 137 crore between him and BS Rao. "It is not proper to mention the issue because it is sub judice." Both the parties filed cases with the police and in judicial courts too.

Ramesh recalled that the Supreme Court in its interim judgment ordered the payment of Rs 12.74 crore to BS Rao in three instalments which is one third of the disputed amount of Rs 63.70 crore. He said that the right decision will be taken on the amount in the final judgment. "It is not true that I have cheated BS Rao for Rs 900 crore," he pointed out.

Ramesh recalled that the Amaravati Bench of National Company Law Tribunal, after going through the cases filed by Chaitanya Group, announced that there was no violation of law. He took strong exception to the propaganda against the LEPL Group which is intended only to damage its reputation. All the issues are under the consideration of the judicial courts and any court so far has not delivered any judgment on the issue, he said.