Minister bought property with ill-gotten money: CBI
The CBI has found that Mr Nimmagadda Prasad had exaggerated the total expenditure at about Rs 450 crore against actual payments of Rs 150 crore. Officials are also identifying certain properties the minister had purchased allegedly with the ill-gotten money. Investigating official and CBI SP H. Venkatesh said, “Investigations revealed that Mopidevi Venkataramana approved the Cabinet memorandum containing proposals for awarding the Vanpic project withholding aspects related to the project. The total extent of land decided for the project was revised.”
The minister had also approved the draft concession agreement with many contradictory provisions detrimental to the interests of the state government that gave outright advantage to the concessionaire. The CBI has alleged that the Council of Ministers, in their meeting on June 30, 2008, had accorded permission for awarding the entire Vanpic project — both ports and the industrial corridor — on a Build, Own, Operate and Transfer (BOOT) basis. “In the concession agreement approved by the minister, the allotment of ports is on BOOT basis, whereas the industrial corridor is on Built, Operate and Own (BOO) basis. The minister in-charge is primarily responsible for business of the ministry as per the AP government Business Rules and Secretariat Office manual,” alleged the CBI.
Investigations also revealed that crucial provisions to dilute Ras-Al-Khaima’s equity in the project to 26 per cent were included, thus facilitating the entry of another private player, Navayuga Engineering Company, into Vanpic Ports. The company got control over the project with 65 per cent defeating the objective of a G2G (government to government) project without open competitive bidding process. After his arrest, Mr Venkataramana underwent a medical examination by doctors at the Dilkusha Guest House at around 1.30 pm.
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