Madhusudhan Reddy, chairman of Keshava Reddy School, lodged a police complaint against former Minister C. Adinarayana Reddy on Tuesday, accusing him of usurping ₹700 crore that was collected as a deposit by the school management operating in Andhra Pradesh and Telangana.
Mr. Madhusudhan Reddy also sought security, stating that he feared a threat to his life from the former Minister and his family members.
Speaking to the media here on Tuesday, Mr. Madhusudhan Reddy said that the former Minister was behind the alleged diversion of funds from the school. It was due to this that the school failed to repay the amount, thus suffering damage to its reputation as well as its ‘creditworthiness’, he said.
Mr. Madhusudhan Reddy said that Mr. Adinarayana Reddy, with the support of party general secretary Nara Lokesh, had exerted pressure on inclusion of their ‘benamis’ into the school society, which was thwarted. Mr. Madhusudhan Reddy added that he accepted the position of chairman of the school management only after being promised by Mr. Adinarayana Reddy, then a Cabinet Minister, that the money would be repaid. “When I demanded payment of money, I was threatened with dire consequences,” he said.
Mr. Adinarayana Reddy was not available for comment. Meanwhile, Mr. Lokesh condemned the allegations as ‘baseless’ and dared Mr. Madhusudhan Reddy to prove the charges. “It is nothing but an attempt to besmirch my image, which the YSRCP leaders have been doing for the last five years. Instead of making wild allegations, the ruling party should come up with a probe to prove my involvement, if any, in the case,” Mr. Lokesh said.
