Three front companies of Satyam's fraud-hit founder, Mr B. Ramalinga Raju, paid Rs 1 crore to a trust run by the Telugu Desam chief, Mr N. Chandrababu Naidu, and his wife, Mrs Bhuvaneswari, says the Deccan Chronicle
Three front companies of Satyam's fraud-hit founder, Mr B. Ramalinga Raju, paid Rs 1 crore to a trust run by the Telugu Desam chief, Mr N. Chandrababu Naidu, and his wife, Mrs Bhuvaneswari, says the Deccan Chronicle.
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The NTR Memorial Trust got Rs 35 lakh each from Elem Investments and Fineith Investments and Rs 30 lakh from High Grace Investments, all front firms of Mr Raju.
Apart from Mr Naidu, the managing trustee, and his wife, the trust has another trustee, Mr D. Seetaramaiah.
The Trust CEO, Mr P. Raghu Rama Rao, accepted they had received money from companies.
Many of the donors are TD leaders or sympathisers, besides companies owned by them. Mr Raju's companies were the only non-TD donors.
Coincidence or otherwise, the list of donations has disappeared from the website of the Trust at ntrtrust.org after the scam broke. The link showing donations to the Trust is available in a Google cache at ntrtrust.org/backup-1203-08/sponsors_list.php.
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