Chandrababu’s Trust got Rs 1 cr from Raju firms | india | Hindustan Times
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Chandrababu’s Trust got Rs 1 cr from Raju firms

It transpires that B Ramalinga Raju had contributed Rs 1 crore to the NTR memorial Trust, run by TDP president N Chandrababu Naidu and his family, reports Ashok Das.

india Updated: Jan 27, 2009 21:10 IST
Ashok Das

While the ruling Congress party in Andhra Pradesh is taking much flak for its handling of the Satyam issue, the main opposition, Telugu Desam Party is not entirely untarnished.

It transpires that B Ramalinga Raju had contributed Rs 1 crore to the NTR memorial Trust, run by TDP president N Chandrababu Naidu and his family.

The payment were made by three little-known companies from the Raju stable: Elem Investments, Fineith Investments and High Grace Investments. The first two paid Rs 35 lakhs each, while the latter paid Rs 30 lakh to the trust, in which Naidu’s wife N. Bhubaneswari is also a member.

NTR Trust CEO P. Raghu Rama Rao admitted to receiving the contributions a year ago. “We received Rs 10 crore from corporates as contributions last year, of which the contributions of the three companies were a small portion,” he added.

Interestingly, the list of donors and amount of donations disappeared from the website of the Trust soon after the Satyam fraud came to light.

Meanwhile, the CB-CID moved the court of the 6th Additional Chief Metropolitan Magistrate seeking police custody of Venkata Gopal Krishna Raju, General Manager of SRSR Holdings, the company through which Rajus held control of Satyam. Gopal Krishna was arrested on January 22 and is in judicial custody.

The magistrate posted the bail petition of Price Waterhouse executives S Gopalakrishnan and T Srinivas for hearing on January 29.