Country’s Premiere investigating agency, CBI had made the second arrest in Jagan’s illegal assets case. Mr. Nimmagadda Prasad was arrested. Prasad allegedly invested Rs. 504 crore in the companies of Jaganmohan Reddy in return for the favours he reportedly received from his father and then chief minister Y.S. Rajasekhara Reddy. Prasad’s Matrix Enport is one of the two promoters of Vadrarevu and Nizampatnam Port & Industrial Corridor (Vanpic). The government of Rajasekhara Reddy had allotted 5,500 acres of land to Vanpic in Prakasam and Guntur districts.
The latest talk in the industry is that Nimmagadda Prasad is the business partner of Nagarjuna in all most all his business. With Prasad arrested, Nagarjuna is also possibly under the scanner of CBI. Lets see what awaits Nag!