Co-accused in Jagan’s Disproportionate Assets Case Likely to Contest From Vijayawada on YSR Cong Ticket

Amaravati: The YSR Congress is likely to field a co-accused in the alleged disproportionate assets case against party chief Jagan Mohan Reddy, Potluri Vara Prasad.

The industrialist was recently inducted into the party in the presence of Reddy. He is expected to be one of the contenders for the Vijayawada constituency.

If given a party ticket, the businessman’s first big political challenge would be against Telugu Desam Party (TDP) candidate Kesineni Srinivas Rao aka Kesineni Nani, the incumbent Vijayawada MP.

Both the contenders belong to the dominant Kamma community in Krishna district and political observers are expecting a neck-and-neck fight in the constituency.

Prasad is the CEO and managing director of Hyderabad-based Potluri Ventures and has stakes in several IT, real estate, construction and media businesses.

He was also one of the highest bidders for the IPL team ‘Deccan Chargers’ and has recently invested in the badminton team, Hyderabad Hotshots.

In an FIR filed by the CBI in 2011, Prasad’s company was named as one of the 74 accused in the alleged disproportionate assets case against the YSR Congress chief.

Prasad is said to have invested Rs 146.97 crore in Jagathi Publications Private Limited (JPPL), owned by the Kadapa MP.

The CBI’s FIR alleged that PVP Ventures along with Cuboid Realtors, Mantle Realtors, Metaphor Real Estates and Projects and

Later, Prasad moved court and sought a time-bound inquiry into the case. The subsequent chargesheet filed by the CBI, left out the company out of the list of accused.

Speaking to News 18, Prasad said “Cases are a part of business. I am the first person to have been relieved from all the charges made by CBI.”

He also expressed his confidence about winning the Vijayawada seat on the basis of his “close association with people as he had undertaken a lot of social activities in and around the city.”

Hitting out at the Chandrababu Naidu government for failing to develop the state, Prasad said people were, hence, looking up to Reddy as their next chief minister.

Dharmana Prasada Rao, the former revenue minister in the YS Raja Sekhar Reddy cabinet between 2004 and 2009 and another accused in the Jagan Mohan Reddy case will be the YSRCP candidate from Srikakulam constituency.

The party may field another new entrant, Dasari Jayaram, in the upcoming elections.