The TDP chief and leader of the opposition Chandrababu Naidu demand a central probe by a sitting judge on the ill-gotten wealth of the CM and his family. Mr Naidu alleged that the CM and his son have laundered huge sums of money through 14 'benami' companies promoted by chief minister Y S Rajasekhara Reddy's son Jaganmohan Reddy. Mr. Naidu challenged that he was ready to face a judicial probe on Heritage Foods owned by his family if the CM and his son were willing to subject themselves to a probe on their assets. The TDP chief launched a frontal attack on YSR Reddy and his son Jaganmohan Reddy. "The Sebi rules were violated. FEMA, FERA and the RBI Acts have been violated and even the Income Tax Act was breached in the functioning of the 14 companies promoted by the chief minister's son. The government of India should immediately conduct an inquiry into the gross financial irregularities," Naidu said. He listed out the 14 benami companies and said that “"all the black money (to the tune of Rs. 6 billion) and sleaze money earned by Rajasekhara Reddy have been put in these companies. This is nothing but money laundering.” The TDP chief and leader of the opposition Chandrababu Naidu demand a central probe by a sitting judge on the ill-gotten wealth of the CM and his family. Mr Naidu alleged that the CM and his son have laundered huge sums of money through 14 'benami' companies promoted by chief minister Y S Rajasekhara Reddy's son Jaganmohan Reddy. Mr. Naidu challenged that he was ready to face a judicial probe on Heritage Foods owned by his family if the CM and his son were willing to subject themselves to a probe on their assets. The TDP chief launched a frontal attack on YSR Reddy and his son Jaganmohan Reddy. "The Sebi rules were violated. FEMA, FERA and the RBI Acts have been violated and even the Income Tax Act was breached in the functioning of the 14 companies promoted by the chief minister's son. The government of India should immediately conduct an inquiry into the gross financial irregularities," Naidu said. He listed out the 14 benami companies and said that “"all the black money (to the tune of Rs. 6 billion) and sleaze money earned by Rajasekhara Reddy have been put in these companies. This is nothing but money laundering.”
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