YS Chowdary Case Just Tip Of The Iceberg: YSRCP

Hyderabad: The YSRCP has been silently observing the ED raids and cases being filed against the Sujana Group of Companies. For the past two decades, the Company has been committing financial atrocities which bad also been reported by the press time and again. But the truth was silenced either through a threat or settlement by the Chandrabau Naidu.

ujana Chowdary had been taking loans against non-existential property time and again, cheating banks and financial institutions, a fact known to everyone in the market. And all this was being done with the knowledge of Chandrababu Naidu, who protected and saved this entity called Sujana Choudary with his clout and power all this while. But at last, with these raids this kind of blatant financial bigotry has hopefully come to an end.

The YSRCP strongly believes, that had the Government of India taken cognizance of these crimes earlier, Hundreds of crores of Rupees taken as loans from banks by Sujana would have been averted and this kind of large scale financial cheating would have never happened.

By March 31, 2017 the loans taken were almost to the tune Rs 7,356 Crore and have now reached Rs 9,500 crores, as per news published in various media. Everyone in the state knows what happened to this money. But...

Sujana Choudary is a mere puppet in the hands of Chandrababu Naidu. He is in short Naidu's benami and Naidu is the one who is enjoying the profits of these irregularities done through his aides like Sujana Chowdary.

The crores of money laundered to various countries was used for funding Chandrababu Naidu's 2009 and 2014 election campaigns, buying property through benami in and around the capital city of Amaravati and there is no account or details of this money which has disappeared into these fraudulent deals and transactions.

It is quite evident that Naidu in return as a favour for this money which Sujana Chowdary has got through duping banks, has given him Rajya Sabha membership twice under the TDP quota and also a plum role as a Union Minister of Science and Technology under a quid-pro-quo basis.

It's not just Sujana Choudary or CM Ramesh alone, there many such scamsters in Naidu's coterie who have to be caught. Before the banking structure in the country collapses, before the common citizen is cheated further, the YSRCP believes it is highly imperative for the Government of India to bring Chandrababu and his aides to court and expose their true colours and put an end to this growing financial crisis.

Also Read: TDP MP Y Sujana Chowdary, ED Raids And Property Details