No transparency in Swiss Challenge

30 Aug 2016 6:04 PM

Hyderabad, Aug 30: Reiterating its stand that the terms and conditions for capital formation was tailor made to suit the Singapore companies, YSR Congress has said that there is no transparency in the Swiss Challenge method which was challenged in court of law by an affected party. ‘The notification issued in a hurry has no new clauses and is tailor made to suit the Singapore companies and the Private Company which has moved the court was not given enough time for the bidding,’ party spokesperson Vasireddy Padma told reporters here on Tuesday.

Bringing in the Attorney General to take up the case on behalf of the state is an attempt to cover up the irregularities of the deal as Swiss Challenge system itself has been declared as a faulty method earlier. The secret pact between the Singapore Companies and the Chandrababu Naidu are not known and after many rounds of discussions and deal bargains the contract was allotted.

With TDP government in touch with the Singapore firms ever since it has come to power the foreign company has the advantage of dealing well in advance and hence others were lagging behind. More so the qualification and other terms were made in such a way that it suits only the Singapore companies which is not a fair trade practice, she said.

This was challenged by the affected party in the court of law and the state has issued a notification in a hurry to cover up its underhand dealings. The secret pact and the agenda of the Singapore companies will come out and expose the irregularities of the Chandrababu Naidu government, she said. She also took objection to a section of media for not giving prominence to the news of reinvestigation of cash for vote by a local court.