Nimmagadda financed Nagarguna too

Industrialist Nimmagadda Prasad who is in Chanchalguda after he funded Y S Jaganmohan Reddy’s companies, has also funded MAA TV and Annapurna Studios of the Akkineni family.

Nagarjuna has been regularly meeting Nimmagadda in the Chanchalguda jail. Reports have been doing the rounds that he had invested money in some of Nimmagadda’s ventures. It was even said he had invested in the controversial Vanpic project. Now it became clear that it was Nimmagadda who invested in Akkineni’s companies and not the other way round.

Media reports said that CBI found that Nimmagadda invested Rs. 23 crore in MAA TV and Rs. 2 crore in the Annapurna Studios.