Amaravati: The Andhra police’ investigation into the alleged Rs 3,500 crore liquor scam during the previous YSRCP regime has revealed that popular liquor manufacturer, Tilaknagar Industries Ltd (TIL), has allegedly paid Rs 218 crore as kickbacks for securing supply orders from the state-run liquor corporation, officials said.
A Special Investigation Team (SIT) probing the alleged liquor scam on Saturday filed a chargesheet in a local court in Vijayawada. The court is yet to take the cognizance of the chargesheet.
The chargesheet did not name TIL as accused.
“Tilaknagar Industries generated revenues approximately Rs 1472 crore from APSBCL (Andhra Pradesh State Beverages Corporation Ltd). An estimated Rs 218 crore was calculated as kickbacks and paid to the syndicate based on the quantity and price pushed through APSBCL,” officials, quoting investigation, said.
Meanwhile, the TIL in a regulatory filing with bourses on Monday said the company has not received any communication or information with regards to the ongoing inquiry into the alleged malpractices pertaining to liquor trade, from any regulatory authority or enforcement agency, till date.
“As always, the company remains focused on maximising shareholder value through ethical business dealings and practices,” it said.
Officials said during the course of investigation, some suspicious bank transactions of TIL were identified, and these revealed that the monies received from APSBCL were converted into untraceable liquid cash.
The company used its privileged position and influence in APSBCL to secure massive sales. To retain this advantage, it routed a share of its legitimate revenue to jewellery merchants, it further alleged.
“The received gold was systematically handed over to syndicate handlers. This gave the transactions a veneer of legal GST-compliant business expense, while effectively converting white banked money into untraceable black assets,” officials said, quoting from the chargesheet.
The Tilaknagar Industries Ltd. episode demonstrates that the liquor syndicate exerted ruthless control, compelling even major legacy players to divert part of their legitimate state income through covert gold transactions.
TIL urged all stakeholders to rely solely on communications flowing directly from the company channels or published through the official stock exchange platform.
In a social media post on Sunday, YSRCP supremo and former Chief Minister Jagan Mohan Reddy had termed the alleged liquor scam as nothing but a manufactured narrative, created purely for media theatrics and to divert attention from real issues.
According to the YSRCP chief the entire case is built on statements extracted under pressure, threats, third-degree torture, and through bribes and inducements.
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