VIJAYAWADA: A complaint against BJP Rajya Sabha MP Yalamanchili Satyanarayana Chowdary (Sujana Chowdary) by YSRC MP V Vijayasai Reddy seeking CBI and ED probe into the alleged money laundering and other frauds committed by the former, is now being looked into by the Ministry of Home Affairs.
On September 26, Vijayasai wrote a letter to President Ram Nath Kovind seeking a probe into the activities of Sujana by describing him an ‘international scamster’.
The President’s Secretariat forwarded the letter to the MHA on November 6 for further action. Through an office memorandum of the MHA, Ashok Kumar Pal, Under Secretary to the Government of India, forwarded the copies of the letter from the President’s Secretariat to the Secretary, Department of Personnel and Training and the Secretary, Department of Revenue, Ministry of Finance.
In the letter to the President, Vijayasai mentioned the ‘fraudulent’ companies owned by Sujana and the ‘frauds’ committed by the MP. He alleged that Sujana was owning or controlling Sujana Universal Industries, Sujana Metal Products, Sujana Towers and 102 other companies.
“One of these companies is a publicly-traded Bartronics,’’ Vijayasai said, adding that except eight companies, all others were ‘shell companies’ involved in circular trading, book building, money laundering and tax evasion activities.
About 50 per cent of the business of the eight companies was being generated through the shell companies in India and another 20-25 per cent through foreign shell companies controlled indirectly by the Sujana group, the YSRC MP complained in the letter.
Mentioning the BJP MP’s banking frauds, Vijayasai said that the Sujana group owed more than Rs 8,000 crores to different banks and financial institutions whereas its market capitalisation was just Rs 132 crore. In the letter, Vijayasai stated that “Sujana and his aides had managed the banks to extend working capital loans on trade receivables of Rs 9,365 crore for a period of nine months, though the banks are not supposed to finance beyond 90 days of receivables.’’
The YSRC MP also mentioned various other frauds allegedly committed by the Sujana group, which established a slew of private limited companies.
Reacting to the development, Sujana said it is common that the President’s Secretariat acknowledges any petition or letter sent to the President, which is forwarded to the department concerned, and the same has happened in this case. “My business and political life is like an open book. Vijayasai is trying to tarnish my image,” he said.
Commenting on Sujana’s reaction, Vijayasai said, “Sujana says his business and political life is an open book. But, he has to answer who opened the book. It is a book opened by TDP chief Chandrababu Naidu. Why is Sujana afraid of just an acknowledgement by the President’s office?”
