chandra babu naidu scams associated with Nara Lokesh

 

                                 Sri.Nara Lokesh, the only son of Sri.Naidu studied in Hyderabad upto his intermediate education. He was a mediocre student and never had any scholarships to his credit, finally clearing his Science stream at the intermediate stage with just over 50%. However, Sri.Lokesh obtained his Bachelors Degree (1997-2000) from the prestigious Carnegie Mellon University and his Masters (2000-2002) from Stanford University in the USA. As Sri.Lokesh did not have the necessary grades, it was necessary for large endowments to be made to the Universities to consider him for admission. The amounts that were donated from unknown Indian sources were Rs.1o crore to Carnegie Mellon and Rs.12 crore to Stanford. There is reason to believe that these payments came from the accounts of Satyam’s Sri.Ramalinga Raju in return for the various benefits offered to him.

Another unanswered question was the funding of huge educational and living expenses amounting to USD 240000 of Sri.Lokesh which were not reflected in the Income Tax records of any of his family including Sri.Naidu.

Sri Nara Lokesh has no source of income even as a minor and subsequent to attaining majority in 2001 as evidenced by his IT returns. However, he acquired Lands at Nindali village in Nellore Dist of AP and near Bangalore and Mumbai worth of hundreds of crores, apart from the prime property ‘gifted’ to him by his grandmother.

Sri Lokesh has been consistently increasing his stake in Heritage Foods India Limited from nil to 9%. He has substantial stake in holding and investment companies viz., Nirvana Holdings Private Limited, Nirvana power limited, Nirvana logistics and warehousing limited, Nirvana energy limited, Nirvana estates private limited, Niravana Packing private limited, Niravana media private limited, Megabid
Finance and investments private Ltd, Heritage foods retail limited, Heritage onpro limited, heritage agro marine private limited, Heritage Fin Lease Limited, Bizpro Technologies Limited, Red Hill logistics and warehousing private limited and Heritage international limited, all of which are from unknown sources.

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