Janardhan Reddy to sue TDP MP Mysoora Reddy

Hyderabad, June 27 (UNI) Refuting Opposition Telugu Desam Party's (TDP) allegations, Brahmani steel promoter Janardhan Reddy today said the company had enough capital to establish a Rs 20,000 crore integrated steel plant in Kadapa district and added ''he would file a criminal complaint against TDP MP M V Mysoora Reddy''.

Addressing a press conference here, Mr Janaradhan Reddy alleged that Mr Reddy was making baseless allegations against the company as part of his 'blackmail tactics', being experimented on several industrialists.

He said the proposed steel plant would start functioning in 18 months.

Alleging that a section of the media was writing false reports against the company, Mr J Reddy said he would file defamation cases against the management of the papers.

It might be recalled that the TDP MP recently alleged that the total assets of the company were only Rs 15 crore and it was not in a position to take up a big project.

He also alleged that the relatives of Chief Minister Y S Rajasekhara Reddy was pumping in black money in the steel plant project to convert it into white money.

UNI