A few days ago, Eenadu published a story about how a company belonging to Jagan‘s Uncle Ravindranath Reddy’s son is trying to grab the lands of Indu Group.
When YSR was the chief minister, the most valuable lands were handed over to the Indu Group of his own people in the name of the Lepakshi Knowledge Hub. As a result, the company invested in the company of Jagan.
As this scam came to light during the CBI investigation, the ED attached those lands. Thousands of crores of loans already taken by mortgaging them have not been repaid.
According to the current market, those lands, worth thousands of crores of rupees, are going into the hands of Jagan’s close relatives’ company in the form of bankruptcy proceedings, and that too for only Rs. 500 crores!
The article said the Chief Minister is using his good office to influence the banks to agree to the 500 Crore offer for the pending loans of around 5000 Crore.
Now, a company called Global Market India Limited approached the Supreme Court with similar allegations. The company informed the Supreme Court that efforts are being made to benefit the Chief Minister’s close relatives.
They also say the banks are cooperating for a meager settlement even though there is a chance of full recovery. The company also challenged the ruling of NCLT on Lepakshi Knowledge Hub assets and properties.