Jagan Government Sends Very Bad Signals to Investors?

Jagan Government Sends Very Bad Signals to Investors?Amara Raja Batteries is one of the earliest investors of Andhra Pradesh. They have plants in the Chittoor district and have created employment for 1000s of families over the years. Andhra Pradesh Government has now ordered the closure of the manufacturing plants of the company.

The company has informed the regulator that it has received closure orders dated April 30 for the company’s manufacturing facilities situated at Karakambadi, Tirupati, and Nunegundlapalli in Chittoor district Andhra Pradesh from the Andhra Pradesh Pollution Control Board (APPCB).

The company says it is reviewing the orders and will be initiating the necessary recourse very soon to protect the interest of all its stakeholders. Amara Raja Batteries belongs to the family of Telugu Desam Party MP, Galla Jayadev who also happens to the company’s managing director of Amara Raja Group.

TDP terms this as nothing but a Political Vendetta of the Jagan Mohan Reddy Government. Regardless of what happens from here, this will send a very bad signal to the investors and the prospective investors of Andhra Pradesh. Amara Raja is a nationwide big brand and this news will also get a lot of bad press for Andhra Pradesh.

This is not the first time Amara Raja Group is at the receiving end from the Jagan Government. Last year, the Government has brought a G.O. to take away 253.61 acres out of the 483.27 acres allocated to the company. The company has to go to court to stall the G.O.

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