Satyam Scam: YSR son says he's done no wrong

New Delhi: The big Satyam corporate scam is still in news especially with the Andhra Pradesh Chief Minister YSR Reddy and his son Jagan Reddy being dragged into the political blame game. Jagan is being accused of using his links with Satyam founder Ramlingam Raju to expand his empire.

But Jagan Reddy says he has received no favours from anyone and his only mistake is that he is the Chief Minister's son.

"Because of the favour what we have done, or the government has done rather, I wouldn't say we again because I am far away from it, but what he has done what cannot actually translate into a somebody doing a favour to me. Nobody is doing any favour here. They are buying shares. They are picking up equity. What is wrong in it? If Vayanaidu can be valued for Rs 6,700 crore and my newspaper Sakshi be valued at something, then why not something else?" he asked.

"If I were to mobilse my stake of money, I sold my stake. If somebody has given me Rs 124 crore,..they have given me by buying 33 per cent stake in my company. There is a media war going on. In fact politics is also divided and media is being divided. This is a serious thing what is happening in Andhra Pradesh," he stated.

"I have never seen Ramaji Rao. never seen Radhakrishna, I have never met them. But my only mistake is being the son to the Chief Minister of Andhra Pradesh," he added.

Meanwhile, while the going looks good for India Inc, the big corporate scam still remains in news as the lookout for Satyam buyers is on.

Spice Group chairman BK Modi has told Network 18 that he will bid for Satyam only if the board goes for 51 per cent stake sale. He is not sure of acquiring a 20 per cent stake through an open offer. He dosen't see it as transparent bid at 26 per cent and will not be interested if the bid is not transparent.

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