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KCR explains his investment in Namaste Telangana

October 28, 2011

Telangana Rashtra Samithi president K Chandrasekhar Rao lashed out against Telugu Desam Party chief N Chandrababu Naidu for making a controversy out of his investments in the Namaste Telangana daily. Speaking to reporters in Hyderabad, KCR explained that he has borrowed Rs. 4 crore from Srinivas Rao to invest in the Namaste Telangana daily. Srinivas Rao is the brother of ex-TRS MP B Vinod Kumar. Chandrasekhar Rao also said that he has also borrowed Rs. 55 lakh from others to invest in the T-News channel which the TDP is not aware of.

KCR said that he has no need to amass wealth in the name of Telangana movement as he was born in a well-off family. He went on to explain that his family had owned hundreds of acres in agricultural land and has also built a house on two acres which was later donated to a government school in the memory of his parents. On the other hand, Chandrababu amassed 360 acres of land from just two acres in Nellore district.

When asked about the links of CL Rajam, the newspaper's managing director with M/s SEW which is identified to implement the Polavaram project, KCR said that it is not his business to worry about the other business of of Rajam. He said that Rajam is a friend from Manthani in Karimnagar district and that he has showed interest to invest in the daily. Referring to the break in the Sakala Janula Samme, KCR said that they know how to peak it up again and said that appropriate action would be taken on the right time.

KCR also demanded Chandrababu Naidu and his colleagues to tender an unconditional apology for the remarks made and said that legal action would be taken otherwise. He added that he is ready to face any action if it is proved that he has invested even a rupee more than what has been declared by him to the Election Commission.


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