Tuesday, December 5, 2023


    HomeAndhra PradeshACB Court Allows Seizure of Tera Software's Fixed Assets in Fibernet Scam...

    ACB Court Allows Seizure of Tera Software’s Fixed Assets in Fibernet Scam Investigation Involving Chandrababu Naidu’s Close Associates

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    The ACB Special Court in Vijayawada has ordered the attachment of seven fixed assets related to the Tera Software company and former Chief Minister Nara Chandrababu Naidu in the Rs 114 crore fiber net scam. The Andhra Pradesh CID has already filed a case accusing Vemuri Harikrishna, Tera Software managing director Tummala Gopichand, and Chandrababu Naidu of their involvement in the case.

    The directors of Tera Software were also directors in firms linked to Naidu’s family-owned Heritage Group. The previous Telugu Desam Party (TDP) Government, led by N Chandrababu Naidu, violated rules and caused a loss of Rs 114 crore to the state exchequer through the AP Fibernet project.

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    The CID stated that the tender process for phase-I of the Fibernet project, worth Rs 330 crore, was manipulated by the then Chandrababu Naidu government to award it to Tera Software Limited, a blacklisted company. This company had been barred from participating in any APTS tenders due to non-compliance with electronic point of sale (EPOS).

    The project aimed to provide high-speed internet, television, and telephonic service from a single broadband connection at a low cost. However, Tera Software Limited had been blacklisted by the Infrastructure Corporation of Andhra Pradesh Limited (INCAP). Naidu had managed to get the blacklisting revoked for unknown reasons, according to the investigation agency.

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