CBI sources said R Jeya Kumar, then Branch Manager of Cotton Corporation of India (CCI)in Guntur; Rayapati Purnachandra Rao, D Rajasekhar Reddy, G Varun Raghuveer -- all three cotton purchasers; and CCI centre in-charges of Guntur Nandigama and Mylavarama have been named in the cases.
"It was alleged that the accused persons procured 11.75 lakh quintals; 9.07 lakh quintals and 3.13 lakh quintals of cotton kapas on different occasions from middlemen instead of cotton growers or farmers at notified marketing yards of Agricultural Marketing Committees (AMC) under Minimum Support Price operations during the crop season 2014-15," a CBI spokesperson said.
"The Branch Manager, Cotton Corporation of India, Guntur, dishonestly released payment to the middlemen, based on the forged/false documents. A huge loss was caused to the Cotton Corporation of India," the spokesperson said.
The CBI spokesperson said searches were conducted at the residential and office premises of the accused persons at 18 places including Guntur, Krishna, West Godavari and Prakasam Districts in Andhra Pradesh and also in Tamil Nadu, which led to recovery of several incriminating documents.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
