New Delhi: The gloves were off in the fight between the government and opposition on who is helping Satyam. The opposition charges the congress of being hand in gloves with Rajshekhar Reddy. The UPA is hitting back.
"CBI enquiry has been ordered. Investigations are on. We will also look into the role of the NDA when they were in power," says Company Affairs Minster, PC Gupta.
"The government is trying to bail out the guilty. Wool is being pulled over our eyes," says TDP member, Mysore Reddy.
CNN IBN has learnt that the Congress could well find itself on the back foot in this crisis. The TDP has already presented a full charge sheet against the Andhra CM Rajshekhar Reddy and his son on their alleged involvement with Satyam.
Charges will now become part of the investigation.
- Jagan is charged of illegally getting almost 120 crores to start his firm Sandur Power
- A sum that was invested in 2005 by two companies -- 2iCapital and Fluri Emerging Capital
- Sandur went on to float some subsidiary companies like - Classic Reality, Caramel Asia, Bhavati Sanidhi Estates, Harish Infra
- Each of these companies were used to float separate firms including Jagan's pet Jagathi publications and Indira Television
- The overall money generated to fund these enterprises is more than 200 crores.
- Questions are now being raised on whether the initial capital for this entire business empire came from Satyam founder Ramalinga Raju
The congress denies all these charges
"All this is baseless,” says Congress member.
Satyam Scandal has turned out to be one of the biggest instances of corporate fraud in our country. On the eve of General elections, expect some more dirt being thrown from both sides.
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