TDP leader Revanth Reddy has made some startling revelations about Nimesh Kampani, a close associate of Relaince Mukesh Ambani, making investment in Jagan’s Jagathi Publications. He alleged that Kampani bought Rs 10 crore worth of shares. The shares were bought at a premium of Rs 350 for a Rs 10 share.
It may be recalled that YSR Congress Party leader Vijaya, in her petition to the High Court against Chandrababu Naidu, had alleged that Nimesh Kampany was a front for Relaince, which invested Rs 2,600 crore in Ramoji Rao’s Ushodaya Enterprises. It was a quid pro quo for Naidu helping Mukesh in KG basin bidding, the petition claimed.
However, now Revanth says that the same Nimesh Kampany invested in Jagan’s Sakshi media group.
Explaining the flow of funds, Revanth alleged that Nimesh Kampani units (J M financials, Latitude, Merchantile Pvt ltd) had invested Rs. 27.65 crore in the Metaphor Real estate and Projects Ltd of Patluri Vara Prasad close to YSR which in turn had invested Rs.10 crore in Jagati Publications of YS Jagan.
“Metaphor Co is just a bogus company formed for the purpose of quid pro quo operations only”, he said adding that the remaining Rs. 17 crore was transferred to Jagan’s close associate Sajjala Ramakrishna Reddy account. “How can a company with just an investment of Rs. One lakh get Rs. 27 crore as loan”, Revanth Reddy questioned.
Interestingly, Potluri Prasad, one of the accused in the CBI case against Jagan, is the key person in Metaphor Company, Revanth pointed out.
The TDP leader sarcastically said that it appears that YSR would have received ‘mamools’ for not participating in the KG basin auctions four times. But interestingly, the investment was made, according to Revanth himself, in December 2009 after YSR’s death.
Wait and watch for Sakshi’s reaction to this sensational allegation.
Click here for the Kampani investment in Jagathi document
