Vijayawada: Kesineni Travels, a well-known bus operator, has shut shop due to mounting losses. Group owner and TD MP Kesineni Srinivas ‘Nani’ took the decision.Mr. Srinivas had attempted to paint it as a battle for the cause of travel operators, and had taken on the transport department in a controversial confrontation with road transport commissioner Balasubrah-manyam recently.
From April 1, the company had cut a number of services and closed down services completely on Saturday.The company had been in the transport field since 1930.
It is learnt that Kesineni Travels will sell most of its 170 buses. “The management may get Rs 12 crore after the sale of majority of these vehicles,” an employee of the company said. He said it needed Rs 7 crore to pay the salaries of the employees, clear the dues and repay loans,
“The company will have Rs 5 crore and will confine itself to cargo operations,” he said. Corruption issues and alleged non-cooperation from the transport department to Kesineni Travels prompted the MP to have a highly publicised spat with the transport commissioner two weeks ago. He had to later apologise to the official. From then on, Mr Srinivas was working towards shutting the service.
Transport department employees said they had won the case morally, though the department restrained itself from filing cases against the MP and his associates.
However, his pressure tactics have yielded some results. It is learnt that the government has directed the police to investigate how officials from Arunachal Pradesh and Nagaland were allegedly visiting Telangana state and AP to register buses....