Lokesh denies links with VSR Ventures

Amaravati: Minister for IT and HRD Nara Lokesh on Wednesday firmly rejected allegations that his family-owned Heritage Group has links with VSR Ventures.

For context, four of VSR Ventures’ aircraft were grounded by the Directorate-General of Civil Aviation (DGCA) over safety lapses in the wake of audit following the January 28th Baramati crash that claimed the lives of Ajit Pawar and four others.

Describing the opposition party’s charges as “politically motivated and baseless”, Lokesh told the media that Heritage Finlease Limited was established in 1996, whereas VSR Ventures Pvt Limited was incorporated in 2022. He stated that Heritage Finlease, a Non-Banking Financial Company (NBFC), had extended financial assistance to multiple firms over the years and that VSR Ventures was merely one among many entities that had availed finance in the normal course of business. “Did anyone foresee who would come to power or who would become Aviation Minister? Are we astrologers?”, Lokesh asked, while dismissing insinuations of impropriety. He said he would place complete details regarding the VSR Ventures matter before the media, while asserting that he was not bound to respond to “every baseless allegation” made by YSRCP president YS Jagan Mohan Reddy.

The controversy gained traction after Rohit Pawar of the Nationalist Congress Party alleged links between VSR Ventures and his uncle Ajit Pawar. Rohit Pawar claimed that one of the lenders to VSR Ventures was Heritage Finlease Limited. The Minister recounted that several cases were filed against him during the YSRCP regime, including those related to fibre grid, skill development, Inner Ring Road, liquor policy, sand mining, and assigned lands. While terming those cases as “false and politically driven”, he sought to know whether mandatory prior sanction from the competent authorities, such as the Governor or Assembly Speaker, had been obtained before filing charge-sheets against elected representatives. Drawing a parallel, Lokesh said previously attempts were made to blame the Telugu Desam Party government in the murder of former minister YS Vivekananda Reddy, and claimed the present allegations followed a similar pattern.