Reddy challenges Naidu to find fault with his son's companies | india | Hindustan Times
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Reddy challenges Naidu to find fault with his son's companies

india Updated: Feb 11, 2009 15:31 IST
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Andhra Pradesh Chief Minister Y S Rajasekhara Reddy has challenged Leader of Opposition N Chandrababu Naidu to complain to agencies if he finds any fault with the companies run by his son Y S Jaganmohan Reddy.

"There is nothing amiss in the affairs of either Sandur Power Company or other subsidiaries floated by my son Jaganmohan Reddy and business partners. If there is anything wrong, you can approach the proper agencies with your complaint," the Chief Minister said in an angry reaction to allegations leveled by Naidu during the course of debate on Satyam scandal in the state Assembly.

The Chief Minister questioned "what's wrong in it?" if shares of Sakshi newspaper, floated by his son, Jagan were sold at a higher price than the face value.

"You find nothing wrong when Eenadu Telugu newspaper's share worth Rs 100 was sold at Rs 5,28,630. But you find fault when a Rs 10 worth share of Sandur Power was sold at Rs 71," Reddy said.

He alleged that Heritage Foods, a company promoted by Naidu's family, sold Rs 60 crore worth of land for a mere Rs 3 crore to a subsidiary Heritage Infra, thereby causing heavy loss to the shareholders.