Latest news with #AdanDistilleries
NDTV
01-08-2025
- Politics
- NDTV
Ex-YSRCP Minister Bought Gold Using Money From Liquor Scam: Nara Lokesh
Andhra Pradesh IT Minister Nara Lokesh on Thursday levelled serious allegations against former minister Peddireddy Ramachandra Reddy, alleging that gold worth ₹400 crore was purchased with money acquired through the state's multi-crore liquor scam by a firm linked to the latter. Mr Lokesh alleged that funds from Adan Distilleries were funnelled into a construction company owned by Mr Peddireddi called PLR Constructions. "Why would a liquor company buy Rs 400 crore worth of gold? Does it make any sense? Is that a raw material?" Mr Lokesh said at a press conference. The allegations come amidst an ongoing investigation by a Special Investigation Team (SIT) into the alleged Andhra Pradesh liquor scam, which reportedly occurred during the previous YSRCP government's tenure (2019-2024). The SIT has been conducting raids and has already seized significant amounts of cash, including ₹11 crore from a farmhouse in Hyderabad, believed to be linked to the scam. The probe suggests that distilleries paid large kickbacks for preferential treatment and contracts, causing substantial losses to the state. The investigation is also looking into a complex network of transactions through shell companies, with the alleged kickbacks amounting to thousands of crores. During the conference, Mr Lokesh "dared" Mr Reddy to deny the allegations. "Money came to Mr Peddireddi's company from Adan Distilleries. I am challenging Peddireddi Ramachandra Reddy. If he has the guts, let Peddireddi deny it," he said. The accusations are the latest in a series of exchanges between the two political leaders. The current government has been vocal about its intentions to hold the previous administration accountable for alleged corruption, and the SIT's investigation into the liquor scam is a key part of this effort. There was no immediate reaction from Mr Reddy on the allegations but earlier, he had dismissed Mr Lokesh's claims, calling them "foolish". The political fallout from these new claims is expected to escalate as the investigation continues.
Time of India
11-07-2025
- Business
- Time of India
Govt orders attachment of properties in liquor scam probe
Vijayawada: Andhra Pradesh govt has ordered the attachment of properties and bank accounts linked to Adan Distilleries Pvt Ltd and Leela Distillery Pvt Ltd, as part of an ongoing investigation into alleged irregularities in the implementation of the state's excise policy between 2019 and 2024. The orders were issued under the Criminal Law Amendment Ordinance, 1944, based on findings by the crime investigation department (CID). The total value of attached properties is estimated to be around Rs 33 crore. According to the govt order issued on Friday, the CID registered a case under multiple sections of the Indian Penal Code and the Prevention of Corruption Act, citing serious offences including criminal breach of trust, cheating, conspiracy, and corruption. The probe revealed a nexus involving govt officials and private entities allegedly manipulating the issuance of order for supply (OFS) licences, inflating liquor prices, and receiving commissions and kickbacks from distilleries. During the investigation, Kasichanyula Srinivas, director of Adan Distilleries, testified that he was coerced by Rajshekhar Kasireddy, named accused number one in the liquor scam case, to establish the company with the promise of OFS support from Andhra Pradesh State Beverages Corporation Limited (APSBCL). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like So sánh mức trượt giá: Hợp đồng tương lai (CFD) Bitcoin vs Ethereum IC Markets Tìm hiểu thêm Undo Despite being a new entrant, Adan Distilleries reportedly recorded a turnover of Rs 800 crore between 2019 and 2024. The investigation further revealed a money trail involving significant transfers. Adan Distilleries allegedly transferred Rs 5 crore each to Arroyo Services Pvt Ltd and Ezyload Network Pvt Ltd, which in turn transferred these funds to Phoenix Spaces Pvt Ltd under the direction of T Eswar Kiran Kumar Reddy, reportedly acting under instructions from Raj Kasireddy. In another major transaction, Rs 20 crore was allegedly transferred from Adan Distilleries to Phoenix Infrastructure Pvt Ltd for commercial property in Phoenix Trivium in Hafeezpet, Hyderabad. Investigators assert that these transactions were part of a larger operation to divert illegally acquired funds from state-sanctioned liquor operations. Leela Distillery Pvt Ltd also came under scrutiny, with Rs 2.85 crore reportedly found in a private bank account in Pondicherry. The amount was allegedly gained through forced acquisition of the distillery and wrongful financial gains by accused persons including Raj Kasireddy, Booneti Chanakya, and Tukekula Kiran Kumar Reddy.
