Click to play videoHyderabad: The Andhra Pradesh police have issued an "international lookout notice" against JM Financial Chairman Nimesh Kampani and 17 others.
So has Nimesh Kampani been caught between the political crossfire in Andhra Pradesh? The speed with which Andhra Pradesh Police are pursuing the decade-old case with renewed fervour has raised a few eyebrows.
Reports say Nimesh Kampani's proximity with media baron Ramoji Rao may have landed him in trouble since Rao finds no favour with the state government and his media empire faces stiff competition from a rival network owned by YS Rajasekhar Reddy's son.
Kampani had reportedly invested Rs 1,200 crore in 2008 in Ushodaya Enterprises, which is a media conglomerate owned by Rao.
Kampani reportedly invested through a privately owned special purpose vehicle called Equator Trading Enterprises Pvt Ltd.
Incidentally the deal came after the Rs 1,081 crore Blackstone-Ushodaya PE deal was undone due to political pressure.
Sources say Ramoji Rao needed this deal badly since he was facing the prospect of liquidation of assets to pay depositors of Margadarsi Finance, which is a company owned by Rao and his family.
So Kampani's timely investment may have bailed out Ramoji Rao. But observers say that may not have gone down well with the Andhra Pradesh Government. Rao is already fighting several court cases slapped by the YS Rajashekhar Reddy Government.
Now a look out notice had been issued by the Andhra Pradesh police for Kampani's arrest.
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