‘Andhra CM Bigger Cheat Than Vijay Mallya, Nirav Modi’; Why Such An Allegation?

Hyderabad: The Opposition has levelled a very serious allegation against Andhra Pradesh Chief Minister YS Jagan Mohan Reddy.

Accusing the CM of deliberately cheating the banks, Telugu Desam Party (TDP) national spokesperson Kommareddy Pattabhiram claimed that Jagan Reddy is a bigger cheat than Vijay Mallya and Nirav Modi, who both are fugitive economic offenders in India.

Kommareddy said the Andhra CM had shocked people of the state by raising loans in the name of Amaravathi after announcing Visakhapatnam, or Vizag, as the executive capital of the state.

“In December 2019 itself, Jagan made a statement on the floor of the Assembly that the capital is going to be shifted to Visakhapatnam from Amaravathi. Henceforth, Vizag will be the executive capital of the state. But, in the name of Amaravathi, he raised loans from the banks and this amounts to nothing but cheating the banks,” said Kommareddy.

Jagan Reddy, the chief of YSR Congress Party, has raised loans of Rs 3,013 crore from various banks in the name of Amaravathi through Capital Region Development Authority (CRDA).

Kommareddy pointed out that details of how the raised loans from the banks are available on page number 50 in the report of Comptroller and Auditor General (CAG) for the financial year 2019-20.

“Since the interest on these loans has not been paid, the bank officials went to the CRDA office and questioned the officials there. During former CM Chandrababu Naidu’s regime, the CRISIL gave A+ rating to the CRDA, but after Jagan Mohan Reddy became the chief minister the rating of the CRDA came down to A-”, claimed Kommareddy.