Nimmagadda Prasad file for divorce

DC CORRESPONDENT
Published Oct 9, 2014, 11:08 am IST
Updated Jan 10, 2016, 8:38 am IST
The CBI had also named him in the Indu Tech Zone chargesheet as accused number 11
A file photograph of the Nimmagaddas in happier times
 A file photograph of the Nimmagaddas in happier times

Hyderabad: Industrialist Nimmagadda Prasad, a co-accused in the Y.S. Jagan Mohan Reddy quid pro quo case, has reportedly filed a divorce petition along with his wife, Asha, under mutual consent at a local court here.

Mr Prasad and his first wife Ms Aruna had separated long ago and he had married again.

Sources said that the couple has filed the petition seeking divorce at a family court and that both parties have come forward with mutual consent.

The industrialist has been in the news lately for all the wrong reasons.

He was named as an accused in two charges-heets filed by the CBI in the Jagan Mohan Reddy quid pro quo investments case. He was also earlier named in the Vanpic chargesheet. The CBI had also named him in the Indu Tech Zone chargesheet as accused number 11 and his company G2 Properties as accused number 12.

In the earlier chargesheet pertaining to the Vanpic (Vodarevu and Nizampatnam Port and Industrial Corridor) project, Mr Prasad was alleged to have colluded with YSR and his son Mr Jagan Mohan Reddy.

The chargesheet stated that the Vanpic project, promoted by Mr Prasad, had invested Rs 854 crore in companies belonging to Mr Jaganmohan Reddy in lieu of land and other favours doled out by the state government led by YSR.

On the business front, Maa TV, which Mr Prasad owns along with actor-turned politician K. Chiranjeevi and his brother-in-law Allu Aravind and actor Nagarjuna, was set to be sold.

Though not confirmed by Mr Prasad’s media managers, the market valuation of the Telugu entertainment channel was put at a whopping Rs 1,800 crore.

Mr Prasad had shot into the limelight by selling Matrix Laboratories to Mylon, which fetched him around Rs 550 crore.

...
Location: Andhra Pradesh




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