YS Jagan Suspects Rigging In Heritage Foods Share Price During Chandrababu Regime

AMARAVATI: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy expressed doubts whether share price rigging was resorted, to hike the value of Heritage Foods Limited shares in the market.

Speaking on the fifth day of the AP Assembly Winter Session on Friday during the discussion hour, the Chief Minister brought to fore how the share values of Heritage Foods Limited had fluctuated when the Chandrababu Naidu was in power and when he was not. The Heritage Foods is owned by the TDP National President and Leader of the Opposition N Chandrababu Naidu.

"Looking at Heritage shares, one gets a doubt that share price rigging was resorted to. The share value, which was Rs. 2 in 1999, was steadily increasing when Chandrababu was in power and dropping after he lost. In December 2017, the price surged to Rs 827but after his defeat in the elections and by March 2020, the price dropped to a low of Rs 205,'' the Chief Minister stated.

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“హెరిటేజ్ షేర్లు చూస్తే షేర్ రిగ్గింగ్ చేస్తారేమోనని అనుమానం కలుగుతోంది. 1999లో రూ.2 లు ఉన్న షేర్ వాల్యూ చంద్రబాబు అధికారంలో ఉన్నప్పుడు పెరుగుతూ.. ఓడిపోగానే పడిపోతోంది. 2017 డిసెంబర్ లో ఏకంగా రూ. 827కి చేరింది. ఒడిపోగానే మళ్ళీ 2020 మార్చి నాటికి రూ. 205కి పడిపోయింది.” pic.twitter.com/ujb1z2NpZ1

— CMO Andhra Pradesh (@AndhraPradeshCM) December 4, 2020

Six TDP MLAs were suspended from the Assembly for the fifth consecutive day which also marks the last day of the winter session, on the charge that they disrupted the proceedings of the House. The remaining TDP members, including their leader N Chandrababu Naidu, walked out of the House in protest.

The TDP gave a notice for an adjournment motion on the pending payments under the MGNREGP and sought an immediate discussion. Speaker Tammineni Seetaram disallowed the motion and took up the listed government business. "You are disrupting the House every day. I am pained at having to suspend you but I am left with no option," the Speaker remarked. Information Minister Perni Venkataramaiah then moved a motion for suspension of the opposition members and it was carried by a voice vote.