Kadapa MP and his web of wealth

May 28, 2012

jagan

Hyderabad, May 28: From a small-time realtor who used to occasionally help his father during poll campaigns, to a high-profile industrialist with interests in power, infrastructure, cement and media sectors, Jagan’s rise has been phenomenal. So was his tryst with controversies.

The growth of his business empire is only matched by brazenness of his political ambitions. In April 2009, he had declared that he possessed assets worth Rs 77.40 crore. This means his assets have since grown by nearly five-fold in just two years. As per the income tax returns filed in 2004 when he was yet to enter politics, the assets in his name were just Rs 9.18 lakh.

His wealth mainly stems from four business entities —Sandur Power Company Ltd which he took over in 2001; Bharathi Cement Corporation Ltd; Jagati Publications, incorporated in 2006, which publishes Telugu daily “Sakshi” and Indira TV which owns Sakshi channel.

Typically, Jagan’s business empire is a network of closely held family companies with cross-holdings in Sandur and Jagati.

It was in August 2011 that the CBI registered a case against Jagan on the direction of the Andhra Pradesh High Cour. This was followed by countrywide searches on the Kadapa MP’s offices and residences in August 2011. Several computers, hard disks, files and other documents from Bharati Cements Limited, a company founded by YS Jaganmohan Reddy, were obtained. Based on this information, CBI officials began enquiring into details about the companies that have invested in Jagan’s companies, which revealed involvement of several government officials, MLA’s and ministers, along with Emaar Properties officials.

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News Network
March 7,2020

New Delhi, Mar 7: No country in the world says everybody is welcome, External Affairs Minister S Jaishankar said on Saturday, hitting out at those criticising India over the Citizenship (Amendment) Act.

Jaishankar criticised the United Nations Human Rights Council (UNHRC) for its criticism on the situation in Jammu and Kashmir, saying its director had been wrong previously too and one should look at the UN body's past record on handling the Kashmir issue.

"We have tried to reduce the number of stateless people through this legislation. That should be appreciated," he said when asked about the CAA at the ET Global Business Summit. "We have done it in a way that we do not create a bigger problem for ourselves."

"Everybody, when they look at citizenship, have a context and has a criterion. Show me a country in the world which says everybody in the world is welcome. Nobody says that," the minister said.

The external affairs minister said moving out of the Regional Comprehensive Economic Partnership (RCEP) was in the interest of India's business.

Asked about the UNHRC director not agreeing with India on the Kashmir issue, Jaishankar said: "UNHRC director has been wrong before.

"UNHRC skirts around cross-border terrorism as if it has nothing to do with country next door. Please understand where they are coming from; look at UNHRC's record how they handled Kashmir issue in past," he added.

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News Network
June 20,2020

New Delhi, Jun 20: The government-imposed upper and lower limits on airfares may be extended beyond August 24 depending upon how the situation turns out, Aviation Secretary P S Kharola said on Saturday.

The government resumed domestic passenger flights from May 25 after nearly two months of suspension to combat the coronavirus outbreak, but placed lower and upper limits on airfares depending upon the flight duration.

It had said on May 21 that these limits would be in place for a period of three months.

"Depending on how the situation turns out, the fare band may have to adjusted beyond that (August 24) also. But right now, it is only for three months," Kharola said at a press conference here.

International passenger flights continue to remain suspended in the country.

However, the government started Vande Bharat Mission on May 6 to help stranded people reach their destinations through special flights.

Aviation Minister Hardeep Singh Puri said at the conference that during phase 3 and phase 4 of the mission, private domestic airlines have been approved to operate 750 international flights to repatriate people stranded amid the coronavirus pandemic.

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News Network
January 23,2020

Patna, Jan 23: "They should go wherever they want," Bihar Chief Minister and JDU supremo Nitish Kumar said on Thursday when asked of Prashant Kishor and Pavan Verma's repeated questions about the party's stand's on the newly enacted Citizenship Act.

"It is their personal decision. They should go wherever they want. We don't have an objection. Don't look at JDU in the context of statements by some people. JDU works with determination. We have a clear stand and don't have any confusion," the Chief Minister told reporters here.

"If they have something to tell, they should come and discuss it within the party. They should go wherever they want. They have my good wishes," he said.

JDU spokesperson and national general secretary Pavan Verma has questioned his party's alliance with the BJP in Delhi Assembly polls while Kishor has more than once made his differences with the party known on the issue of the amended Citizenship Act, and National Register of Citizens.

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