Ever since the news got out that IT raids are being conducted by government officials along with CBI sleuths, there is a widespread belief that former TV9 CEO Ravi Prakash has started using his Delhi clout to push My Home Jupalli Rameshwara Rao into trouble. Is this true?
It is true that TV9’s ousted CEO Ravi Prakash has written to various law enforcement and investigation agencies about the wrongdoings that happened in the selling of TV9 which includes various parties including ABCL and Alanda Media. However, the raids on Rameshwar Rao are not related to the issues of TV9 and neither Ravi Prakash’s letters or clout has anything to do with it, say sources.
Apparently, Rameshwar Rao’s My Home teamed up with Bangalore based RMZ Corp for a couple of ventures including that ongoing ‘Skyview’ venture. Both MyHome and RMZ are operating at 50:50 stakeholding in a couple of other projects too. And now, an IT investigation related to RMZ in Bangalore has led the sleuths to Hyderabad now, but there is no other motto, a media house revealed. Some IT officials are said to have revealed that the raids are a ‘routine’ one but there is nothing like investing a grave offence or something like that.
My Home Rameshwar Rao owns 62% of Alanda Media and controls TV9 through his directors.
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