BJP MP Ramesh named as prime accused in Rs 450 crore forgery case

Hyderabad Desk

Hyderabad: Bharatiya Janata Party (BJP) MP and industrialist from Andhra Pradesh, CM Ramesh, has been named as the primary accused in a forgery case linked to an alleged financial loss of Rs 450 crore to actor Venu’s PCL Joint Venture company.

The case came to the fore after Kavuri Bhaskar Rao, son of former Union minister Samba Siva Rao recorded his statement in the case at the Central Crime Station in the city.

According to Venu’s complaint, filed at the Jubilee Hills police station in 2023, the PCL Intertech Lenhydro Consortium Joint Venture designated Bhaskar Rao as its representative through a General Power of Attorney (GPA) in January 2002.

Subsequently, the company engaged in a contractual agreement with Tehri Hydro Development Corporation Limited (THDC) for the implementation of civil projects at Tehri Dam in Uttarakhand.

The authorized signatory for project completion, Bhaskar Rao, as the GPA holder, is responsible for all project-related tasks.

Venu alleged that in November 2002, Ramesh, the authorized signatory of Rithwik Swathi Joint Venture (He is the founder and chairman of the company), alleged to be a bogus firm, falsified Bhaskar Rao’s signatures in an alleged fake agreement that occurred 10 months later.

Bhaskar Rao sought confirmation of forgery through a forensics lab, where tests reportedly confirmed the document’s signatures were forged. Following this, Venu filed a complaint at Jubilee Hills police station in November 2023, leading to the case being moved to Central Crime Station in December 2023.

Ramesh has faced allegations of establishing shell companies and embezzling funds in the past.

Recent information from the ECI’s electoral bonds data revealed that Rithwik Projects Pvt Ltd contributed Rs 30 crore to the Congress.

The company obtained a significant Rs 1,098-crore contract for engineering, procurement, and construction work on the Sunni hydroelectric project in Himachal Pradesh.

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