The complaint said that Ramesh had forged some documents that caused PCL losses amounting to around ₹450 crore.
CM Ramesh speaking during a BJP event. (X)
In a forgery case registered in the Jubilee Hills Police Station in Hyderabad, Andhra Pradesh BJP MP CM Ramesh has been named the primary accused.
The case filed by actor Venu in 2023 said that Ramesh had forged some documents that caused PCL Intertech Lenhydro Consortium Joint Venture company (PCL) losses amounting to around ₹450 crore.
The case came into the limelight following Ramesh’s company Rithwik Swathi Joint Venture — which is claimed as a bogus company by the complainant — was on the list of electoral bonds purchasers by the Election Commission.
On Saturday, 24 March, Kavuri Bhaskar Rao — son of former Union minister Samba Siva Rao — appeared before the Central Crime Station to record his statement in the case as a witness representing the General Power of Attorney (GPA) holder of PCL.
He said, “I was asked a few questions as a witness for the case and the statements are recorded. As far I know, CM Ramesh has not been interrogated yet.”
According to Venu’s complaint, PCL designated Bhaskar Rao as its representative through a General Power of Attorney (GPA) in January 2002.
After that, the company entered into a contract with Tehri Hydro Development Corporation Limited (THDC) to execute civil works at Tehri Dam in Uttarakhand.
According to the Jubilee Hills Police the GPA holder, Bhaskar Rao, is the authorised signatory for all works related to the completion of the project.
It is alleged in the complaint that 10 months after the aforementioned contract, Ramesh forged the signature of Bhaskar Rao to execute a contract in the name of Swathi Joint Venture — alleged to be a bogus company of which he is the founder and chairman.
Bhaskar Rao registered the complaint in November 2023, after obtaining a forensic lab report to verify that the document in question was forged.
An official of the Jubilee Hills Police Station told South First that the case was transferred to the Central Crime Station in December 2023.
Venu stated that the authorised signatory of PCL was forged by Ramesh the authorised signatory of Rithwik Swathi Joint Venture (bogus company) and fabricated a false agreement.
“The signatures of the Complainant’s Authorised Signatory K Bhaskar Rao in the Agreement dated 16 November, 2002 (the “Forged Agreement”) and against Pinninti Nageswara Rao for holding it making copies, circulating the same and using the said forged Sub-Contract Agreement as genuine for making a wrongful loss to the complainant and an unlawful gain to themselves including but not limited to resorting to perjury,” according to the FIR, accessed by South First.
He also detailed that Nageswara Rao was working in collusion with Ramesh as his employee but operated as the PCL’s agent, where both the entities have conflicting interests as contracting parties with varied interests.
PCL entered into a contract with Tehri Hydro Development Corporation Limited (THDC) for the execution of civil works at the Koteshwar Hydro Electric Project at Tehri Dam in Uttarakhand.
Subsequently, some disputes arose between PCL and were referred for arbitration in 2023. Following that, the company identified instances of forgery and a criminal complaint was registered at Jubilee Hills Police Station.
According to the electoral bonds data released by EC, Rithwik Projects Private Limited had purchased bonds amounting to ₹45 crore.
(Edited by Muhammed Fazil)
May 12, 2024
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