Probe against C.M. Ramesh intensifies
Case relates to loss of `450 cr belonging to film actor T. Venu
BJP former MP C.M. Ramesh allegedly forged signatures of the son of former Union minister Kavuri Sambasiva Rao in connection with a `450crore business belonging to the film actor T. Venu. The BJP has nominated Ramesh for the upcoming Lok Sabha elections from Anakapalle in Andhra Pradesh.
The Hyderabad Central Crime Station police are probing the forgery case related to the loss of `450 crore belonging to Tollywood actor turned businessman Thottempudi Venu’s firm PCL.
A few days ago, Sambasiva Rao’s son Bhaskar Rao appeared before the Hyderabad CCS officials and recorded his statement in connection with the case.
In 2023, Venu, director of PCL, lodged a complaint with the Jubilee Hills police alleging that PCL Intertech Len Hydro Consortium, a joint venture, had appointed Bhaskar Rao as its general power of attorney (GPA) holder in 2022 to take care of its business activities. Later, the company initiated several contracts with Tehri Hydro Development Corporation Limited in Uttarakhand.
“Rajya Sabha MP C.M. Ramesh, who is owner of Ritwik Swathi joint venture, had indulged in forging signatures of Kavuri Bhaskar Rao resulting in financial loss to the tune of `450 crore to PCL,” Venu said in his complaint lodged with the Jubilee Hills police.
The Jubilee Hills police transferred the case to Hyderabad CCS police for investigation. The CCS police sent the documents to the forensic lab for verification. After allegedly obtaining reports, the CCS investigation officer recorded statements of Bhaskar Rao.
Ramesh’s company obtained more than `1,000 crore contracts for the Suni Hydro Electric Project in Himachal Pradesh.