The Hindu : Andhra Pradesh News : YSR also responsible for Satyam crisis: TDP, Left

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Andhra Pradesh

Andhra Pradesh

YSR also responsible for Satyam crisis: TDP, Left

Staff Reporter

‘Fraud has taken place with knowledge of A.P. government’

The parties want all papers relating to Satyam, Maytas to be made public
Naidu seeks job security for the employees

NELLORE: Leaders of Telugu Desam Party, CPI (M) and CPI have charged the Andhra Pradesh government with allocating works to the tune of thousands of crores to Maytas Infrastructure and held Chief Minister Y. S. Rajasekhara Reddy also responsible for the crisis in Satyam Computer Services Limited along with the company chairman, B. Ramalinga Raju.

Speaking at the ‘political conclave’ organised by the three parties here on Thursday, they alleged that the fraud in Satyam Computer had taken place with the knowledge of the government and demanded that all the documents related to Satyam and Maytas be made public.

Addressing a public meeting, TDP president N. Chandrababu Naidu said this was the first time an IT company in the country had collapsed putting 53,000 software professionals in dilemma. He wanted the government to provide job security for the employees and render justice to the investors by booking the culprits in the fraud.

Nexus alleged

CPI (M) State secretary B.V. Raghavulu accused the government of having connections with Maytas Infra and Maytas Properties run by Mr. Ramalinga Raju’s sons. He said several projects, including Machilipatnam Port, were taken up by Maytas after they were given Rs. 335 crore. He pointed out that even before the port work was taken up, Metro Rail Project was given to the same company.

“It is a scam of over Rs. 7,000 crore in which the Chief Minister and the Satyam chairman are involved,” Mr. Raghavulu said.

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