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Lagadapati staying silent in AP’s survey

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Former MP from Vijayawada, Lagadapati Rajagopal went on mute after his election survey during Telangana’s assembly elections went wrong. When media persons confronted Lagadapati at the camp office of Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu in Amaravati, he refused to make any predictions on the federal front proposed by KCR.

‘I don’t want to make any comments on federal front’, says Lagadapati.

During the recent assembly elections in Telangana, Lagadapati surveyed that TRS will win only 30 seats. But he got trolled as the TRS won 88 assembly seats out of 119. Lagadapati’s current plan to enter into politics by joining TDP. His main target would be Vijayawada Lok Sabha seat again. Lagadapati confessed that he met CBN to invite to a family function when asked reason behind ABN MD Radha Krishna and him meeting CBN.

Lagadapati also doubted on Telangana’s elections as his survey never went wrong according to him.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

People lost huge in betting because of Lagadapati?

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Andhra octopus Lagadapati bit the dust this time. As he is known for his excellent track record in predicting election results before they were announced, many people believed Lagadapati survey, even though it was not in sync with the ground reality they were observing.

As per the reports coming from Telangana as well as Andhra, many people lost huge in betting because of Lagadapati. Even though most of them were betting for TRS before Lagadapati prediction, ever since he announced Praja kootami getting the majority and TRS losing in this election, gamblers showed increased interest in betting for Praja kootami. These bettings happened not only in Telangana region but also in Andhra region.

Now all those who gambled based on Lagadapati prediction incurred huge losses. People who lost because of Lagadapati are lambasting him like anything. Some people are even expressing doubts that whether betting Mafia pushed Lagadapati to announce these kind of fake results.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Lagadapati’s Lanco Infratech foremost to face bankruptcy proceedings

Reserve Bank of India (RBI) has directed its lead lender IDBI Bank to initiate insolvency proceedings for power and roads builder Lanco Infratech (Lagadapati Amarappa Naidu and Company Infratech) under the Insolvency and Bankruptcy Code (IBC). Following the instruction from the bank, the shares of Lanco hit all time low.

RBI’s internal advisory committee (IAC) had forwarded the listed of 12 accounts to bankers for immediate reference under IBC. The consortium of 27 lenders to Lanco Infratech led by IDBI Bank has initiated insolvency proceeding against the firm which is first among the 12 listed firms.

The market value is at 613 crore rupees of the 25-year-old group controlled by a former Congress MP Lagadapati Rajagopal currently owes 18,000 crore rupees to banks.

The company in its annual report of 2015-16 noted that due to the challenges being faced by the power and infrastructure sectors, the financial performance had taken a toll. Lanco infratech reported a net loss of 813 crore rupees for the quarter ended December 31, 2016.

Lanco Infratech is among 12 firms identified by the central bank with a combined debt of over 1,50,000 crore rupees, a quarter of the total non-performing assets (NPAs), for proceedings IBC 2016.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

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