New Delhi: Reports have surfaced that the Andhra unit of the Communist Party of India (Marxist) had deposited crores of rupees in the account of the party newspaper following demonetization. 127 crores were reportedly deposited into the accounts of Prajasakti Printers and Publishers, the mouthpiece of Andhra CPI (M). 10TV, a Prajasakti-controlled television channel, was sold off when a probe was initiated to look into the episode. It is believed that CPI (M) central leadership has also started a party-level investigation on the issue.
P.P. Chaudhary, the minister of state for Corporate Affairs, had on 3rd March 2018 informed the Lok Sabha that an investigation was underway to look into the affairs of Prajasakti Printers and Publishers. The minister had added that the investigation will be handled by an agency that looks into serious economic offenses. The minister reiterated this on 4th January 2019.
Prajasakti is in the scanner for companies involved in economic offences during FY 2017-18. Apparently, the party-level investigation was initiated after more details started trickling in. Opponents of Polit Bureau member B.V. Raghavulu had raised the red flag against him as early as March 2018. It is alleged that he is being shielded by the Prakash Karat camp.
10TV was sold after the investigation was announced in March 2018. Sources indicate that the buyers are relatives of Telangana Chief Minister, K. Chandrasekhara Rao.
Prajasakti is infamous in history for its support to the British during the days of the Quit India movement. The party newspaper amplified the pro-British stance of the Communist Party with articles peddled to undermine the movement.