This Article is From Apr 09, 2009

Satyam scam and the politics around it

Hyderabad: The fireworks started even before the debate on Satyam fraud began inside the Andhra Pradesh Assembly.

Telugu daily `Sakshi' owned by Chief Minister Y S Rajasekhar Reddy's son Jagan published a front-page item on Monday alleging that Chandrababu Naidu's son Lokesh's foreign education bill of up to Rs 25 crore was paid by Satyam.

",He is my only son. We own a company. My wife works day and night. The company has been making profits running into crores for the last 10 years and more. Can't we even pay for our only son's education?'' said Chandrababu Naidu, President, TDP.

In turn, Naidu presented documents alleging that about 13 companies reportedly floated by YSR's family had indulged in money-laundering. He also alleged that `Sakshi' newspaper owned by Jagan had 32.5 per cent foreign institutional investment, much higher than the legal ceiling of 26 per cent.

",He is talking about foreign institutional investment of over 26 per cent and says he got documents from the Internet. I can download anything from the Internet. That doesn't make documentary proof,", said Sridhar Rao, MLA, Congress.

The debate in the Andhra Pradesh Assembly on Satyam, Ramalinga Raju and his sons ironically turned into a debate on the sons of the Chief Minister and former chief minister. It became rather personal with Chandrababu Naidu alleging that his son Lokesh was better brought up than YSR's son Jagan.
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