The Kadapa MP, Mr Y.S. Jagan Mohan Reddy, defended his investments in Bharati Cements. “How can anyone call it a scam or fraud? I don’t understand that. In fact, there are only three partners in this firm. India Cements have invested Rs90 crore, they got Rs150 crore in return, Dalmia Cements also invested almost the same and got around Rs130 to 135 crores, another Prasad invested around Rs250 crore and he got Rs500 crore in return. What is wrong in this? The French company, Vicat, which has an international reputation in cement industry, bought shares in Bharati Cements, so all shareholders have got good returns. Had I not been the son of Rajasekhar Reddy I would have got the Best Industrialist’s Award by now,” he added.
Talking about his message to the Congress president, Mrs Sonia Gandhi, the YSR Congress president said: “God is watching everything. I cannot say more than this. Whenever elections are held you will witness mind-blowing results.” Criticising the Telugu Desam chief, Mr N. Chandrababu Naidu, welcoming the CBI probe against his firms, Mr Jagan Mohan Reddy said that the same Mr Naidu once described the CBI as the “Congress Bureau of Investigation”.
“Is it not a fact that Mr Naidu gave the Kakinada Port to a Malaysian firm, the Gangavaram Port to the Dubai government and the Krishnapatnam Port to Natco Chowdary? Was it not a fact that he gave lands to Emaar Properties, L&T and Billi Rao? How can anyone accuse only YSR leaving out the entire Congress Cabinet and Mr Naidu? The Congress doesn’t want a person who left the party to come to power,” he said. Referring to the criticism by the Congress leaders of the YSR regime for doling out lands to various institutions, Mr Jagan said that there was nothing unusual in what his late father did. “He just continued the land allotment policy of Mr Naidu. I may remind you that lands were allotted to many firms during Mr Naidu’s regime. No one questioned Mr Naidu as to why he allotted lands to private firms. As per the rules, even for allotting an acre of government land to a private firm, it should come before the Cabinet and it was the YSR Cabinet that had allotted the lands to various firms, so it was a collective decision of the Cabinet, not of an individual,” he clarified.
“Everyone knows that he (YSR) is no more. He cannot come and defend the decisions; so Congress leaders started targeting him as if he was responsible for the allotments. They never criticised me while I was in the Congress, they are targeting me now that I have left,” he added. Deccan Chronicle