Vishakapatnam: Andhra Bank has issued notices to Hindupuram MLA Nandamuri Balakrishna's younger son-in-law and TDP leader Sri Bharat Matukumilli along with 11 other family members and close friends that share a relationship with Bharat's VBC Renewable Energy Company. The bank even announced that it will be auctioning the assets of Bharat who owes more than Rs 13 crore to Andhra Bank.
Andhra Bank said in a press release that the auction decision was taken after Bharat had avoided repaying the loan from April. An amount of Rs. 13,65,69,873 was owed to the bank and that loan was approved after the submission of the VBC Renewable Energy Company documents. Along with that, Andhra Bank handed over a 47 cent land in Vishakapatnam.
YSR Congress party MP V Vijay Sai Reddy on twitter alleged that Bharat was a thief who looted public money. Bharat responded to the tweet of Vijay Sai Reddy and said that AP Transco has outstanding due of Rs 3 crore to VBC Renewable Energy Company for supplying power, and the VBC company has outstanding loan instalments of Rs 2 crore which they would have paid if the AP government released their funds. But unfortunately, he forgot that the funds need to be released by AP Transco and not by the AP government.
Bharat even blamed that many businessmen in the state of AP are unable to pay salaries to their employees due to pending bills from the government. But he forgets the fact the Transco payments have ceased since the Chandrababu Naidu led TDP regime.
Bharat in a recent TV interview said that the TDP did not even need a Junior NTR in the future, and this gave rise to hopes in TDP that he might be a good competitor in politics. But with his irrelevant arguments and statements, he proved himself as a good competitor to Nara Lokesh’s tongue slips.
With the change in per unit charge from Rs. 5.90 to Rs.2.44, as per the high court decision the AP Transco will have to pay only Rs. 96,85,082 to VBC Renewable Energy Company.