Satyam got favours from Reddy govt, says CAG

“This was violative of the constitutional provisions of equality of opportunity,” the CAG said in its report submitted to the AP Assembly on Tuesday.  The land was alloted near Visakhapatnam in December 2008 at a concessional rate of Rs 10 lakh per acre, though the company was entitled for only 7.5 acres at concessional rate and the rest at market value (Rs 4 crore to Rs 4.55 crore an acre). “As against Rs 170 crore payable, Satyam paid a meagre amount of Rs 4.25 crore. The allotment of land in excess of the limits prescribed in the ICT  Policy resulted in a benefit of at least Rs 165.75 crore to the company,” the report added.

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