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Ballasticmissile
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Post Number: 2045
Registered: 07-2012
Posted From: 125.99.197.136

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Posted on Tuesday, November 20, 2012 - 06:51 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Bharathi:

nenu edhi chesina THRIKARANA SUDDHIGAA CHESTHA i should get convinced myself when i do something





manasa vacha karmana chestara ....telusu lendi any way thanks for informing :D
1st Gen:NTR/ANR/SOBAN/KR/KRISNA=my choice ANR
2nd Gen:chiru/nag/NBK/venky=my choice nag~chiru
3rd gen:pawan/mahi/ntr my choice:pawan
next gen:cherry/AA/pebbi/etc: my choice AA
politics :ysr religion:sankaracharya
finaltally:pawan>>>YSR>>nag/AA~chiru my choice
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Bharathi
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Post Number: 1505
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Posted on Tuesday, November 20, 2012 - 06:50 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

meeru eppatnuncho chaduvuthunnaru nenu 2 montsh nunchi modhalu petta i took it to heart nenu edhi ayian anteh ...I TRY to follow the teachings rather than readng
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Bharathi
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Posted on Tuesday, November 20, 2012 - 06:47 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

meeru just chaduvuthaaru nenu dhanni heart ki theesukunna THATS THE DIFFERENCE nenu edhi chesina THRIKARANA SUDDHIGAA CHESTHA i should get convinced myself when i do something

after idolising vivekananda i cant support YSRCP whose votebank is converted christians and muslims i cant wholeheartedly support ysrcp if i support it it's like thinking on one line and doing on different line ..i cant behave like that ..
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Ballasticmissile
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Posted on Tuesday, November 20, 2012 - 06:43 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Bharathi:




pekata pekate tammudu tammude..............nenu hindutva and vivekananda,sankaracharya books chaduvuta..... jaggad ki vote veyatleda....

ayina idedo munde chesunte anni bans maa KNF unde vallu maaku...
1st Gen:NTR/ANR/SOBAN/KR/KRISNA=my choice ANR
2nd Gen:chiru/nag/NBK/venky=my choice nag~chiru
3rd gen:pawan/mahi/ntr my choice:pawan
next gen:cherry/AA/pebbi/etc: my choice AA
politics :ysr religion:sankaracharya
finaltally:pawan>>>YSR>>nag/AA~chiru my choice
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Bharathi
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Post Number: 1503
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Posted on Tuesday, November 20, 2012 - 06:26 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

ante personal gaa ayanaki unna parichayam tho konni manchi vishayalu cheppe vaaru ysr gurinchi now i dont tell YSR IS BAD IN ALL ISSUES prathi manishiki bad good unnatle ayanaki unnayi

but now nenu ysrcp ki dooram kavataniki na ideals lo vacchina maarpu like me inclining towards vivekananda vedhantha etc ..christian conversions ki nenu dooram now ..
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Newguy123
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Posted on Tuesday, November 20, 2012 - 05:57 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Bharathi:

liked ysr due to personal affiliations of my USA uncle with him




USA uncle class mate ayithe nuvvu like cheyatam enti?

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Bharathi
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Post Number: 1502
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Posted on Tuesday, November 20, 2012 - 05:33 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

i never liked gandhi family but liked ysr due to personal affiliations of my USA uncle with him i.e gulburga classmate but now stopped liking jagan bcos became saffron fan understood evils of CHRISTIAN CONVERSION the more i read of vivekananda teh more patriotic and the more i ahte conversions and corruption

i belong to VEDHANTHA MATHAM as vivekannada used to like to call rather than HINDUISM ..
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Dada
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Posted on Tuesday, November 20, 2012 - 05:26 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

In that “country”, miners would barter a third of their output to conduct hassle-free business in the state. “Some 120-odd companies were mining 300,000 tonnes of iron ore each day across Andhra Pradesh and adjacent Karnataka — barring a handful of companies, all the miners has acceded to pay protection money,” says Lok Satta’s Narayan. Given that many, if not most, mine-owners had been given mines gratis or through some push-and-pull in the past, negotiating a fixed output in exchange for no harassment wasn’t a bad idea at all. And given that iron ore prices were soaring, there was more than enough money to go around. It costs not more than Rs 300 to produce a tonne of iron ore and at the peak, the selling price was more than 10 times that price, so the arithmetic of mining deals was mind-boggling. Assuming a selling price of Rs 3,000 per tonne, a third of the daily output (that is, 100,000 tonnes) would fetch Rs 30 crore. That translates to nearly Rs 11,000 crore per annum, and roughly Rs 55,000 crore for five years.
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Dada
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Posted on Tuesday, November 20, 2012 - 05:24 am:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

bagundhi article..... TTs emaina plan chesthunnara ee article tho.....
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Dma
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Posted on Monday, November 19, 2012 - 05:49 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Buggaler:

Any one with a half a brain of any normal person, will know what this bullshit is all about.

If you still don't believe that it is bull shit, they have vapour heads

when ever some one tries to evoke emotional response, just take a deep breadth & thing it over, but never ever respond to such.

Just don't fall bait to these psychofancy fools.

This applies to every one including me & hope every one follows suit.




Nuvvu tittaavaa pogidaavaa?

Evariki em seppalanukunnaavu?
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Buggaler
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Posted on Monday, November 19, 2012 - 05:35 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Any one with a half a brain of any normal person, will know what this bullshit is all about.

If you still don't believe that it is bull shit, they have vapour heads

when ever some one tries to evoke emotional response, just take a deep breadth & thing it over, but never ever respond to such.

Just don't fall bait to these psychofancy fools.

This applies to every one including me & hope every one follows suit.
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Saarang
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Username: Saarang

Post Number: 292
Registered: 06-2012
Posted From: 131.107.174.239

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Posted on Monday, November 19, 2012 - 05:03 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Bharathi:

anyways RAUL SONIA CHIDDU VADRA




Veela meeda...YSR batch...maa Sonia oka tyaaga seeli..oka mother Teresa...Rahul ni 2014 lo PM cheyyatam maa jivataasayam annpudu kooda same feeling vundedha?
Kotthga Chanchalguda tho gnanodhayam ayyindaa?
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Siloan
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Posted on Monday, November 19, 2012 - 05:01 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

guluji....response soodalani vundi
rock(8557):nenu ekkada nundi chupinchamantav. commonsense thappithe na dhaggara proof emi ledhu.
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Saarang
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Posted on Monday, November 19, 2012 - 05:00 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Rajusk:

Bharathi:

JAGAN KANIMOZHI first batch lo veelandharini CONVICT cheyagalgiteh MODI




Naadi same expression. Did Bharathi's account get hacked ani doubt vacchindhi.
Kaani Jagan amayakudu avvatam valla migatha politicians laaga Swiss banks daachukoledu annaka hack avvaledhue anipistaandhi...


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Dma
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Posted on Monday, November 19, 2012 - 01:52 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Rajusk:

avuna..idi eppudu jarigindi...




http://www.chalanachithram.com/discus/messages/125/197066.ht ml
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Rajusk
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Posted on Monday, November 19, 2012 - 01:16 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Dma:

Bharathi sellemma 180 degrees. Inka kontha mandi DB jantha ki telisinatlu ledu.




avuna..idi eppudu jarigindi...

anyways..good for Modi..and BJP
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Dma
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Posted on Monday, November 19, 2012 - 01:08 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Rajusk:

Rajusk




Bharathi sellemma 180 degrees. Inka kontha mandi DB jantha ki telisinatlu ledu.
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Methhanithodugu
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Posted on Monday, November 19, 2012 - 12:40 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Rajusk:

JAGAN KANIMOZHI first batch lo veelandharini CONVICT cheyagalgiteh MODI




akka ki chandramukhi with apraichithudu type ..... edo konchem materialistic warald lo Politics anthe ......Modi ki 3D fan akkada....
cinima c ni ma la soodandi
Jai Chandra Madiga garu
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Rajusk
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Posted on Monday, November 19, 2012 - 12:26 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Bharathi:

JAGAN KANIMOZHI first batch lo veelandharini CONVICT cheyagalgiteh MODI




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Bharathi
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Posted on Monday, November 19, 2012 - 12:22 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

And really, that’s been Jagan’s failing. Unlike politicians who prefer keeping their money safe and anonymous in Swiss bank accounts,

THIS IS WHERE HE GOT CAUGHT UNLIKE RAHUL AND SONIA ( ofcourse national herald ccase is getting filed ..barring that ..)

anyways RAUL SONIA CHIDDU VADRA JAGAN KANIMOZHI first batch lo veelandharini CONVICT cheyagalgiteh MODI ..desam lo atleast 50% mandhi corruption ante bhayapadatharu ..mind u not INVESTIGATION ..GETTING CONVICTED IS NEEDED to bring fear among people doing corruption
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Rock
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Posted on Monday, November 19, 2012 - 12:02 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

delete my post mods
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Rock
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Posted on Monday, November 19, 2012 - 12:02 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

monnane vesavu ga. this para summarises for me.



COVER STORY: JAGANMOHAN REDDY
Playing For High Stakes
YS Jaganmohan Reddy’s inherited goodwill and uncanny business sense have catapulted him to a politically invincible position
N MAHALAKSHMI , KRISHNA GOPALAN

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ALSO IN THIS STORY
The quiet hum of conversation falters briefly as two mobile phones ring simultaneously. The man holding them peers intently at the screens and passes them to another “assistant” standing nearby — “Anna will call back when he is free” — even as the discussion begins anew. This isn’t a boardroom — it’s an all-too common scene at Chanchalguda Jail in Hyderabad, where YS Jaganmohan Reddy has been lodged since his arrest in a disproportionate assets case. Come November 27, it will be six months since Jagan’s incarceration, but life seems to be going on with minimal disruption. “It does not matter where I am, work never stops — be it business or politics,” Jagan said to a family friend who visited him a month ago. Certainly, he’s been meeting some 100-odd people daily on average, including YSR Congress party workers, friends and family — never mind prison regulations on visitors. And when he’s not sorting out matters of party or business, Jagan spends his time reading, practising yoga and playing badminton every evening. “He is up to date on the national political scene — from Bihar to Jammu and Kashmir — and is gearing up for the 2014 elections,” says the friend. That’s true. Already his sister Sharmila is pulling in the crowds and preparing the ground with her 3,000 km padayatra across the state.

The Yuvaraja’s palace: Jagan’s plush bunglow at Yelahanka, near the new airport in Bengaluru, is spread across 23 acres. (Photograph by Nilotpal Baruah)

And why not? The 39-year-old novice politician’s thumping victory in the Andhra Pradesh Assembly by-elections in June — where YSR Congress swept 14 out of the 17 seats, demolishing both Congress and the Telugu Desam Party (TDP) — could have only strengthened Jagan’s confidence and resolve. Especially given that this was an election he won sitting in jail.




“The CBI findings capture only the deals that left an audit trail; the bigger chunk of the money was made in cash"—Jayaprakash Narayan, Founder, Lok Satta


But this is not a story on Jagan’s spectacular victory, nor is it about political shenanigans. This is about how Jaganmohan Reddy came out of nowhere, amassed a fortune by getting the best out of “available resources”.
The chief accusation against the Andhra “Yuvaraja” is that he struck quid pro quo deals when his father YS Rajasekhara Reddy was chief minister that resulted in disproportionate assets — Jagan had declared assets of Rs 365 crore while contesting the by-elections for the Kadapa Lok Sabha seat in 2011. But ask anyone in business or political circles in Hyderabad, and they will tell you that the findings of the Central Bureau of Investigation (CBI), which largely bring out these quid pro quo deals, barely scratch the surface. “These [findings] capture only the deals that left an audit trail; the bigger chunk of the money, it seems, was made in cash,” says Jayaprakash Narayan, a former IAS officer who started an anti-corruption political party Lok Satta. But really, it’s not how much money was made — although that’s a jaw-dropping sum in itself — but how it was made that makes the story interesting.



How It All Began

In February 2009, when YSR was in power, the TDP-led Opposition in Andhra Pradesh brought out a 331-page book titled Raja of Corruption, exposing blatant violation of several laws by YSR. “It made no difference,” says Nama Nageswar Rao, TDP member of parliament from Khammam.

Those were happier days for the first family of AP, and YSR was in favour with the Congress high command. He had come a long way in a few short years. A politician of relatively modest means, YSR had put his Banjara Hills house on the block ahead of the state elections in 2003, and sold off a chunk of land; a few years earlier, the insecure father had approached friends to get his only son a job that would fetch him a decent monthly salary. Now, less than a decade later, that same son is worth several thousand crore. His house at Yelahanka near the new airport in Bengaluru is spread across 23 acres of land. “When I visited him at his house, he would be on this enormous white sofa, dressed well and wearing a Patek Philippe limited edition watch,” says a banker, who has dealt with him on a number of occasions.

Back in the 1990s, though, nobody would have guessed Jagan would do so well for himself. After finishing his schooling from Hyderabad Public School, Begumpet, in 1991, and Bachelor of Commerce from Osmania University in 1994, Jagan was sent abroad to study. But he returned almost immediately and moved to Bangalore to try his hand at real estate. By all accounts, he wasn’t too successful and soon moved to his next venture: mini hydel projects. He raised Rs 2 crore from close friends and relatives to set up two plants, a 1 MW project in Warangal and a 25 MW project in Mangalore. Money was tight, though: after Jagan’s wedding in 1998, it was wife Bharathi’s family that was supporting the couple financially.




“He had an open-door policy — any big deal with a large payoff was sure to be worked out"—Lagadapati Rajagopal, Congress MP


For the next four years, Jagan apprenticed with Lagadapati Rajagopal, YSR’s friend and also a Congress party leader, learning the nuances of the infrastructure business — from doing project appraisals right down to managing execution — at Rajagopal’s company, Lanco. “Jagan had both the aptitude and the appetite — he was smitten by the concept of the big project,” recalls Rajagopal, who is a two-time member of parliament (MP) from the Vijayawada constituency. As the 2004 Assembly elections approached, it became evident that the TDP would be voted out and that the stars were turning favourable for YSR and his family. People began taking him very seriously. As easily as that, money — or the lack of it — stopped being an issue.
Surprisingly, YSR was not keen on Jagan joining politics. “YSR knew his son was ambitious and aggressive. As a good father, he wanted to keep him away from controversy,” says veteran Andhra politician MV Mysoora Reddy, who recently left TDP to join Jagan. It didn’t really matter, though. “Jagan himself was not in the least interested in politics — for him, politics was only a means to further business interests,” says a business associate who has worked with him closely.

And business interests were becoming evident. The boom in mineral and land prices — two resources over which the government had complete control — was just beginning when YSR was made chief minister, and Jagan understood the value of both. With 48 minerals, from iron ore and bauxite to granite, limestone and beach sand, Andhra Pradesh accounts for over 10% of India’s mineral production, and land became much sought-after especially as rising real estate prices coincided with the government’s grand plans to set up SEZs. Both these developments meant the state machinery could be exploited to cut deals in favour of “interested” parties.

Underground Operation
YSR’s determination to keep his son away from politics extended to barring him from even entering the secretariat in Hyderabad. But that didn’t stop Jagan from getting off to a rocking start in Bangalore from 2003 onwards. At the heart of his empire-building were his close ties with a partner who ruled a country of his own making, the kingdom of Bellary.

In that “country”, miners would barter a third of their output to conduct hassle-free business in the state. “Some 120-odd companies were mining 300,000 tonnes of iron ore each day across Andhra Pradesh and adjacent Karnataka — barring a handful of companies, all the miners has acceded to pay protection money,” says Lok Satta’s Narayan. Given that many, if not most, mine-owners had been given mines gratis or through some push-and-pull in the past, negotiating a fixed output in exchange for no harassment wasn’t a bad idea at all. And given that iron ore prices were soaring, there was more than enough money to go around. It costs not more than Rs 300 to produce a tonne of iron ore and at the peak, the selling price was more than 10 times that price, so the arithmetic of mining deals was mind-boggling. Assuming a selling price of Rs 3,000 per tonne, a third of the daily output (that is, 100,000 tonnes) would fetch Rs 30 crore. That translates to nearly Rs 11,000 crore per annum, and roughly Rs 55,000 crore for five years.




“The one-step-at-a-time approach will not work — you will be dead, Jagan said, when we were launching"—Ramakrishna Reddy, Director, Sakshi


The self-styled Raja of Bellary was Gali Janardhan Reddy, and Jagan and Gali initially came together because of the Reddy-community connection. Until the BJP came to power in Karnataka in 2008, Gali was a nobody in the state. But he had quickly realised the advantage of leaning on his powerful friends in the community. Gali’s real riches — and those of Jagan — were the result of illegal mining through a company that is named after a small village in Anantapur district, 315 km from Hyderabad. The YSR administration bent over backwards to accommodate Gali’s Obulapuram Mining Corporation (OMC), from helping in extending the lease and doctoring the lease renewal dates and resisting fresh survey of mines that would have stopped illegal mining, to withholding allotments in adjoining lands so illegal mining could continue and giving land liberally at throwaway prices. OMC’s turnover in FY04 was Rs 35 crore, with a nominal profit of Rs 1.05 crore; by FY09, it had crossed Rs 3,000 crore with a net profit of Rs 700 crore. Much of the money was made flaunting rules or exploiting loopholes using various state-owned institutions. A prime vehicle was Andhra Pradesh Mineral Development Corporation, whose then-chairman VD Rajagopal is now behind bars for being an abettor (see story on page 87).
In exchange for these favours, Jagan received 50% of the booty. Not directly, of course. OMC agreed to sell 50% of its output at operational cost and nominal 5% profit to a company called Red Gold Enterprises whose CEO was also the CEO of Sajjala Iron & Steel, Bellary. That company is owned by Sajjala Diwakar Reddy, whose brother Sajjala Ramakrishna Reddy heads Jagan’s media business and is a close friend. Ramakrishna was also a key face for the YSR Congress Party during the recent elections.


Shooting stars: The alliance with Gali Janardhan Reddy helped Jagan capitalise quickly on the boom in commodity prices. (Photograph by AP)

Empire Building

Mining became the fodder for most other businesses Jagan would enter into. Much of the mining output was under-invoiced and exported to China through benami front companies, and the illegal income parked in tax havens to be repatriated as investments through shell companies. For instance, in Sandur Power, one of Jagan’s first business ventures, he allegedly routed money through two foreign companies that are said to be his own (See: Jaganmohan Reddy’s business empire). The CBI charge against Jagan is that not only did he move money out of the country through hawala and then bring it back to plough into his businesses, but also that he “whitewashed” his money through corporates that allegedly benefited from the YSR administration.



Many players were keen on setting up cement capacities in AP; instead of taking a cut and making quick money, Jagan decided to set up his own cement plant


Aiding him in all this was a coterie of friends and associates. But those close to Jagan say that all decisions are ultimately his alone. And it was he who decided the modus operandi and the terms of all deals. His inner circle includes two brothers involved in diamond trading in India and the Far East. The brothers, one of whom is based in Mumbai, are well-known in political circles for their clean way of doing a dirty business — the business of hawala transactions and changing the colour of money. Before the state elections in 2004, sources say, the brothers gave Jagan an unsecured loan of Rs 2 crore and soon after, made a Rs 4-crore preferential capital investment in Sandur Power.
Later, a Rs 125-crore investment from 2i Capital and Pluri Emerging Company into Sandur Power was structured through Asia Infrastructure, a protected cell company (PCC). PCC companies are routinely used to route hawala money as investments. CBI enquiries reveal that Asia Infrastructure, in turn, got money from Whitehall Associates and Wellmade Incorporated — and one of the brothers is the director of Whitehall. Incidentally, when Asia Infrastructure was started it had a capital of Rs 1 crore; five years later when it shut down (conveniently after Jagan bought back shares from 2i and Pluri), the capital had risen to Rs 1,100 crore. The local press in Andhra Pradesh says the deal is still being investigated by the CBI.

The mastermind of this labyrinthine deal and, indeed, all others was Jagan himself. “The deal with the Gali brothers set the stage for an open-door policy — any big deal with a large payoff was sure to be worked out,” says Rajagopal.

Despite his political background, Jagan wasn’t well-connected — most deals happened at the instance of businessmen. Take, for instance, the Vadrevu and Nizampatnam Port Industrial Corridor (Vanpic). It was industrialist Nimmagadda Prasad — the biggest investor in Jagan’s businesses, deploying over Rs 500 crore across media, cement and power — who came up with the proposal for an integrated port-based industrial area. Prasad negotiated with Ras Al Khaimah, one of the seven emirates that constitutes the UAE, to come in as partner, which would enable the AP government to approve the contract without competitive bidding. The level of corruption was huge: the project was originally allotted 400 acres of land for the two ports, but ultimately 13,000 acres was acquired from farmers in cash. “More importantly,” says TDP’s Revanth Reddy, MLA from Kodangal constituency in Mahbubnagar district, “while the government bought the land at Rs 70,000 per acre, it was sold to Vanpic at Rs 3-4 lakh per acre and Vanpic started re-selling the land at Rs 7-12 lakh an acre.” Moreover, Prasad eventually sold off a substantial part of his stake in Vanpic to infrastructure company Navayuga, while the emirate also sold 25% of its holding, so Navayuga ended up with a 60% stake in the project without competitive bidding.”

An Opportunistic Businessman

Take a good look at Jagan’s decisions and it’s obvious that he has a natural instinct for business, knowing just when to cut and run and when to settle in for the long haul. His choice of key businesses — cement and media — then, not only display his opportunistic streak but also his prowess as a strategist.

A banker of a state-owned bank tells this tale. His bank had lent to a couple of jewellers in Hyderabad, who started defaulting. Their properties were attached but there was no hope of any recovery because the jewellers had underworld ties and would not concede. “Jagan bought out the bank’s outstanding loan of Rs 45 crore, confidently,” says the banker. “With those assets, he must have made a killing.”




“Jagan was a master strategist. With the Gali alliance, he ensured that be it Congress or BJP at the Centre, he would be insulated"—Nama Nageswar Rao, TDP MP


And then, consider cement. Andhra Pradesh has India’s largest limestone reserves. Owning limestone reserves is not only a key source of competitive advantage, it also creates an entry barrier for new companies in the business. Obviously, many players, including multinationals, were keen on setting up capacities in AP; instead, Jagan, too, decided to set up his own cement plant. “Any politician would have just said yes to each of the businessmen and quickly made his cut. This is where the businessman in Jagan came to the fore,” says Rajagopal. In 2007, Jagan acquired Raghuram Cements, renamed it Bharathi Cement and quickly ramped up capacity to 5 million tonnes with an outlay of Rs 1,700 crore at its plant in Kadapa. He roped in Prasad, Dalmia Cement and India Cement as investors and in April 2010, sold 51% in the company to France’s Vicat for Rs 2,500 crore, offering a profitable exit to the investors. The three investors, who put in approximately Rs 440 crore between 2007 and 2009, must have tripled their money, at least, on exit in 2010.
In FY12, Bharathi clocked revenues of Rs 1,200 crore and is a debt-free company with presence in six states: Maharashtra accounts for 60% of sales while 25% comes from Andhra Pradesh. Not surprisingly, once Bharathi Cement was established, very few limestone quarrying leases were given in the Kadapa region.
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