At a Glance – How YS Jagan empire bloomed: Jagan was a spoiled brat before 2004. Kept himself mostly to Bangalore and Kadapa. Jagan friendly with Karnataka politicians and businessmen than those in AP. YSR’s son-in-law involved in a telecom company which multi international call racket, got off with huge fines. Before 2004 YSR’s barytes mining business under loss after cancellation of Mangampeta mining leases. Suffered losses in some  power project sub-contracts in MP and HP. Had sold away Andhra Pradesh Carbides due to losses. Even his Banjara Hills Road-2 House was under litigation. Jagans Sandur Power project slowed due to lack of funds. YSR’s  becoming CM was a god send to  family. As he conceived Outer Ring Road, many family bought land at pea nuts and sold away later for huge margins. There after all government projects became guinea pigs for the family and friends to mint money- Jalayagnam – infrastructure and power projects were targets. While YSR mooted projects – KVP and Jagan worked out conduits to stash bribe money. Jagan’s core group comprising of Vijai Sai Reddy, Ram and financial analyst  Pradeep came out with a contingency plan to route bribe money. Several dummies and also small time companies formed to accept bribe money in form of purchase of quity scrips at premiums. Launched Jagati publications to counter adverse campaign by Eenadu and Andhra Jyothi. Dropped plans for English Channel as elections were around and hard to get anchormen in English. Two to three Mauritius companies were also brought in to invest in Sandur and Jagati. Even a month before YSR death, i.e.  July end of 2009 YSR and KVP had finalized plans to extend land allocations to nearly 170 companies’. They were in minutes of the first cabinet meeting also. Rosaiah had  negatives the minutes of last cabinet meeting of YSR and asked for fresh look into the same. Jagan and KVP campaigned against Rosaiah and only after AICC admonishment kept quiet.
Posted on: Thu, 13 Mar 2014 08:38:02 +0000
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