CID finds Raju city land deals

Udumula Sudhakar Reddy
24th jan 2009
Crime Investi gation Department (CID) sleuths have ferreted out details of the land deals undertaken by Mr Ramalinga Raju, his family members and associated firms.
They are now trying to trace out the source of the funds used for these land transactions.
This newspaper has obtained exclusive access to the details of 487 acres of land purchased by Mr Raju in the name of several benami firms. These lands were bought in Ranga Reddy district between 2006 and 2007. Mr Ramalinga Raju and his family members had bought around 487 acres in the name of several benami companies. These plots were bought in Loyapalle and KB Pally of Manchal Manda in Ranga Reddy district from May 26, 2006, to April 2007. It was during the same period that massive insider trading of shares occurred.
The CID, which unearthed it, is now trying to trace the source of funds used in the land transactions.
On April 27, 2007, around 35 acres at Loyapalle was registered in the name of Mandamalika Greenlands, a benami firm of Mr Raju. The land was purchased from six farmers.
Aryaka Agro Farms bought 53 acres on August 22, 2006, and on May 26, 2006, Karaveera Agro Farms bought 47 acres, Gowrdhanagiri Agro 44.25 acres and Mrugasira Agro 50.37 acres. Mangalaprasta Agro and Ketumala Agro bought 52 acres and 45 acres respectively on June 3, 2006, and Vardhamanagiri bought 54 acres on August 22.
On September 20, Nagagiri Agro and Panchapadi Agro bought 54 acres each and Nandanagiri purchased 53 acres. The money for sale deed transaction was paid from Karur Vysha Bank in Jubilee Hills.
Nandanagiri Greenlands got 53 acres registered in its name in KBPally on September 20, 2006. It paid Rs 21.95 lakh as sale consideration through a cheque on account number 14511152370 of Karur Vyshya Bank.
The stamps and registration department also found that around 240 land transactions were undertaken in the name of Mr Raju alone in the State.