Though we have been hearing on and off for a long time that India’s leading industrial house Reliance Industries owned by Mukesh Ambani had acquired a major stake in the Eenadu media group, it was for the first time that the details of the deal came out on Tuesday.

Reliance Industries announcement that it would sell its stake in ETV channels to the TV18 Broadcast Ltd revealed the  existence of business links between the media baron Ramoji Rao and India’s premier industrial house.

Though every one has a vague idea of the Reliance Industries’ acquisition of a major stake in the Eenadu group, it was disclosed for the first time that Ramoji was left with only 51 per cent stake in the two ETV Telugu channels and he sold off his entire stake in the four regional channels and five entertainment channels owned by him to Mukesh Ambani owned company.

It may be recalled that Pulivendula YSR congress MLA Ms YS Vijayalakshmi had mentioned Ramoji-Reliance Industries deal in her petition filed in the state HC seeking a probe into the alleged illegal properties of former chief minister Chandrababu Naidu.

She had alleged that Mukesh Ambani had helped Ramoji Rao a few years ago when he was in a financial crisis by making investments into his loss making Eenadu group. She charged in her petition that it was quid pro quo arrangement made by Ambani for getting bids of the gas blocks in the KG basin in his favour. She said the deal was orchestrated by none else than Chandrababu Naidu.

The Eenadu-Reliance deal was highly questionable as the Reliance Industries bought the Rs.100 shares at a premium of Rs 5,28,630 each when the Eenadu group declared a loss of Rs.59 Cr.

Already, YSR Congress president YS Jaganmohan reddy has been facing similar charges for receiving investments in the similar quid pro quo arrangement from some companies for doing favours to them through the Government during his late father YSR’s regime.

Will not the same charges apply to Ramoji Rao, Reliance Industries and Chandrababu Naidu? (JUBS)