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Showing posts with label Trimex. Show all posts
Showing posts with label Trimex. Show all posts

Thursday, April 3, 2014

Titanium Scandal exposes more scams during the late Y.S.R era

The United States Department of Justice indicted Mr. K.V.P. Ramachandra Rao for his role in the "Titanium Scandal". The full text of the indictment can be read here.

Maybe people have not realized the full impact of this scandal and the potential other scandals it can expose. The Central Bureau of Investigation has to start a new investigation (or re-open the existing investigation) from this new information that has come to light against Y.S.R's soul-mate. Also, licenses for every mining related activity granted during the late Y.S.R's regime need to be investigated.

This throws up an old culprit from the Emaar Scam mentioned in this blog -> Mr. Koneru Prasad of the Trimex Group. Interestingly, Mr. Koneru Prasad's Trimex group was granted mining licenses for Titanium and other minerals in Andhra Pradesh. Also interestingly, Mr. Koneru Prasad is running for elections from guess which party, the Y.S.R congress party!!! Looks like all the scamsters have setup a party to start new scams!!!  He has spent some time in jail, just like the chief of his party!! The CBI needs to investigate Mr. Koneru Prasad's Trimex group and how the licenses for mining were obtained to mine rare minerals of Andhra Pradesh.


And the prime benefactor of all these scams during the Y.S.R era of course is Mr. Y.S. JaganMohan Reddy, who fortunately for him, did not sign or participate in the backroom deals and hence avoided getting indicted by the US DOJ. However, KVP's indictment ties him indirectly to these scams.

Will the Indian government hand over Mr. KVP to the US? Probably not, since he has a lot of dirt on kick backs paid to the higher ups in the Congress Party during YSR's time.

Friday, August 13, 2010

How did the APIIC stake reduce to 26% from 49% in Emaar Boulder Hills?

When the Emaar Boulder Hills project was given to Emaar during the Telugu Desam government, APIIC had a 49% stake in the project. When Y.S. Rajasekhar Reddy became Chief Minister, this stake magically reduced to 26% and subsequently to Zero! How did the initial 49% to 26% reduction occur? Were there any official orders issued for this? What was the reason?

I hear rumors about a certain Mr. Koneru Prasad of a company called Trimex Group was involved in this reduction of equity stake and in return the UAE emirate of Ras Al Khaimah gave a lot of goodies to YSR and his family.