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August 21, 2011 / subramanyam

Games of YSR Congress in A.P.


         While entire India is fighting against corruption a set of people’s representatives from A.P. seem to be taking the other route . Some 25+ M.L.A’s who support Jagan and the YSR congress party are threatening to submit their resignations. If they have their way , they might submit their resignations tomorrow.

          Why do these 25+ MLA’s and the 2 M.P.’s want to submit their resignations ? they are opposing the inclusion of Y.S.Rajasekhar Reddy’s name in FIR filed by CBI in the cases against Y.S.Jaganmohan Reddy(YSR’s Son). The charges against Jaganmohan Reddy are that he conspired with his father late Y S Rajasekhara Reddy and other individuals and companies to “cheat the government of Andhra Pradesh in the matter of granting certain favours.”It is alleged that the companies that benefitted from the decisions of Y.S.Rajasekhar Reddy’s government in turn invested in Jagan’s companies, bought lakhs of shares of his companies at a very high premium and later sold those shares back to Jagan/Jagan’s companies at the face value of the share. For example , imagine a share that has a face value of Rs 10 was bought at 1500 and then sold back to the parent company itself for Rs 10. So what did the investor do here , why did he incur a loss of 1490 rupees and why did he give Jagan/jagan’s company so much of profit,  now imagine the profit of Jagan when  lakhs of shares are traded in that fashion .Interestingly all these investors got some benefit or the other from the then congress government in A.P. which was led by late Dr. Y.S.Rajasekhara Reddy.One way it’s like paying bribe in a hi-tech and very methodical  manner.

          Based on complaints filed against Jagan, the Honourable High Court of Andhra Pradesh has asked the CBI to probe into these irregularities.CBI is probing this now and in the past few days they have turned heat on Jagan by probing and conducting raids into most of the offices in his business empire. Jagan and his party Y.S.R.Congress party(Jagan left Indian National Congress an year ago and recently started his regional outfit YSR congress, there are still a lot of supporters for him in the ruling congress party of those some 27-19 MLA’s are threatening to quit Congress in the FIR Issue.) say that these raids, probes and all are politically motivated. The MLA’s in question are now threatening to quit just because Y.S.R’s name is included in the FIR of the CBI.

          The irony here is that these MLA’s and YSR Congress till now are not refuting the claims , they are not saying that(atleast now ) these irregularities did not happen. They say that it’s not correct to blame YSR alone and say that it’s collective responsibility of YSR’s cabinet and hence all the ministers in that regime should take the responsibility.They also maintain that the probe is politically motivated, can a high court be politically motivated? The ruling Congress is in a fix , as long as YSR was there he was their ideal CM, now the probe and all might bring tough questions on them, the congress ministers maintain that   people who were profited from those decisions should be the people responsible for the entire mess and they cannot drag the entire cabinet here, at the same time congress is worried that allegation against YSR would definitely comeback on them and their party.The main opposition party TDP and it’s supremo  Chandrababu Naidu seem to be  quietly happy as the probe is in a way  validating the allegations they have been making for the last 5 years.

          Even now , I still do not get the logic behind the resignations of the MLA’s supporting Jagan, if they belive that Jagan and his father Late YSR have done nothing wrong then CBI’s probe is fantastic opportunity  to come clean , if CBI finds nothing then the credibility of YSR and Jagan would be restored and in fact the credibility would increase , why are they not taking this approach?. two, it’s not the state or the central government that has asked CBI to probe, it’s the court, so by resigning do they want to prove the court wrong or something ? three, naming a person in the FIR doesn’t mean that things are over the names should also get into the charge sheet can’t these guys wait till the charge sheet comes out? Or are they afraid that too many things/misgivings cases against Jagan might come out of this probe and in order to stop that  do they want to topple the congress government in A.P. by submitting their resignations? My gut feel says the last one is the reason.As a last resort to save himself and stall the probe, Jagan might be inciting this now.  So in a way aren’t  these people are resigning in support of corruption/corrupt person!!!!!! what can we say about them ?

          I am sure people of A.P. would teach these people a lesson , if they are not doing it they are inviting their own peril.

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4 Comments

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  1. aoutlook / Aug 22 2011 8:10 pm

    As a chief minister and also has the power in hand, what his father did while his son putting the pressure on the investors to invest in his businesses?
    Did he also support or his son didn’t listen to his words?

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    • subramanyam K.V. / Aug 23 2011 11:59 am

      The allegations(most probably this is the truth as well) are that both of them did this together. See one person got 15000 acres of land from Y.S.Rajasekahara Reddy for a price lesser than the market values(Govt bears the loss.) and after that he invested hundreds of crores in Jaganmohan Reddy’s businesses through his companies /individually. Do you think YSR will not know this, as one leader in A.P. summarises ,YSR was in hyderabd , jagan in Bangalore , only after the green signals came from Bangalore the allotments happened in hyderabad. Finally A.P. Government and the people of A.P. are the people who bear the loss.

      Thank you for your comment.

      Like

  2. Khalid Hasan / Aug 23 2011 12:26 am

    How the ruler twists the reality, when they are in power. Blocking the way to bring justice. If some people say Anna is arm twisitng Govt., tghen what are these rulers doing? Arm twisitng law.

    Like

    • subramanyam K.V. / Aug 23 2011 12:04 pm

      hi Hasan
      yeah thats the truth, these guys are arm twisting the law. Noe every party in A.P. is criticising the for what they have done, but they donot look to amend thier ways. Some are even accusing that they have recived good and big amounts from Jagan so that they resign. People of A.P. should teach these people a lesson.

      Thank you for the comment.

      Regards
      Subbu

      Like

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