Nagarjuna Meets Nimmagadda Prasad with ‘Prasadam’

Hero Nagarjuna has once again met industrialist Nimmagadda Prasad in the Chanchalguda jail on Friday. Nagarjuna who recently went to Shirdi and placed the audio cassette of his film ‘Shirdi Sai’ at the Samadhi of Baba, gave Prasadam brought from Shirdi to his friend Prasad.This is the second time for Nagarjuna to meet Nimmagadda. He has earlier met him on June 30th.
Reports said earlier that Nagarjuna had invested in the controversial Vanpic project. A noted English newspaper wrote that the hero had invested heavily in the Matrix Enport Holdings company, which had undertaken the Vanpic project. The paper cited the annual financial report the company had submitted to the Registrar of Companies, in which Nagarjuna’s name was mentioned as one of the stake holders. The report mentioned that Nagarjuna owned 2 lakh shares of the value of Rs. 10 each. The report also said that Nagarjuna had tried to take back his shares after Nimmagadda was arrested. Nimmagadda, Nagjuna and Chiranjeevi own 80 percent of the shares in the Telugu TV channel MAA TV. Thirty percent of these shares were purchased by Sony Pictures Telivision in April. Nimmagadda Prasad is the chairman of MAA TV.
It may be mentioned here that Nimmagadda Prasad was arrested on allegations that he had indulged in irregularities in distribution of compensation for land acquired for the Vanpic project. He is also facing charges of investing in the companies of the YSR Congress chief Y S Jaganmohan Reddy, in return for undue favours received from his father Y S Rajasekhara Reddy when he was the Chief Minister.