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1-min read

Jagan Mohan Reddy Now Threatens to Take Legal Action Against Naidu Over Loss of Rs 2,636 Crore

Alleging that the agreements with solar and wind power companies caused Rs 2,636 crore loss to the state exchequer, Reddy asked officials to take steps to recover the amount.

News18.com

Updated:June 26, 2019, 7:19 PM IST
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Jagan Mohan Reddy Now Threatens to Take Legal Action Against Naidu Over Loss of Rs 2,636 Crore
Andhra Pradesh Chief Minister Y S Jaganmohan Reddy (File Photo)
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Amaravati: Andhra Pradesh chief minister Jagan Mohan Reddy on Wednesday threatened to take legal action against his predecessor Chandrababu Naidu for entering into agreements that allegedly cost state exchequer loss of Rs 2,636 crore.

Alleging that the agreements with solar and wind power companies caused Rs 2,636 crore loss to the state exchequer, Reddy asked officials to take steps to recover the amount.

The chief minister said there were huge irregularities in the power purchase agreements and ordered legal action against then CM, then Energy Minister and senior officials who entered into the agreements.

According to an official release, Reddy ordered constitution of a cabinet sub-committee to probe the corruption indulged in previous by Telugu Desam Party (TDP) government headed by Naidu.

The panel will look into 30 issues. It will be assisted by Anti-Corruption Bureau (ACB), Crime Investigation Department (CID) and Vigilance and Enforcement.

Jagan Reddy announced this during a meeting on irregularities in power purchase agreements. He wondered why the government had to buy the power at a rate much higher than the competitive bidding price.

He formed another committee to re-negotiate the agreements with solar and wind power companies. The Chief Minister said if necessary the agreements will be cancelled.

(With inputs from IANS)

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