Y.V. Subba Reddy, managing director of Sree Swarna Energy Limited, has alleged that the Telugu Desam, and its leaders, N. Chandrababu Naidu and Dr Nagam Janardhan Reddy, caused him monetary loss and mental agony by agitating and issuing malicious statements against the 3 MW power project at RDS Anicut near Rajoli Banda. He, therefore, has filed a Rs 69.18-crore defamation suit against Telugu Desam, and its leaders,
Subba Reddy claimed a compensation of Rs 50 crore for defamation of name, fame and reputation besides causing mental agony, anxiety and tension and another Rs 19.18 crore for monetary losses.
In the legal notice, Subba Reddy demanded payment of Rs 19.18 crore within 15 days and publication of an unconditional apology in newspapers within a week.
Subba Reddy had bagged the 3 MW mini hydel power project from Karnataka government and the generating capacity was later enhanced to 4.5 mw. However, the TD launched an agitation against the project alleging that it would deprive the rights of farmers of Andhra Pradesh, particularly those in Mahabubnagar district. The company denied the charge and the Supreme Court verdict had vindicated its stance, said the notice.