Special Correspondent

Not an attack on freedom of press, says Finance Minister

  • Criticises Telugu Desam's comments
  • `State not vindictive towards Eenadu'

    HYDERABAD: Justifying the CID's searches on Margadarsi Financiers, Finance Minister K. Rosaiah has reiterated that the action did not amount to "attack on the freedom of press" as claimed by the Opposition.

    The Rangachary committee appointed to inquire into the matter was acting cautiously after obtaining legal consent but the Opposition parties, the Telugu Desam in particular, were trying to project as if the Government was being vindictive towards Eenadu daily for exposing its lapses.

    "We are in fact trying to rectify the genuine lapses whenever they are brought out. But, the TDP is seeking to blur the line between business and press," he said.

    Talking to reporters here on Thursday, Mr. Rosaiah said the Rangachary committee was constituted after the firm reported losses following the RBI's directive not to accept fresh deposits. "The company earlier used to recycle the deposits which has been stopped after the RBI's directive and questions are now being raised over the security of the deposits." In the process of its inquiry, the committee neither entered the premises of Eenadu nor questioned any member of the publication. "We have respect for Eenadu to which the Government pays the highest advertisement tariff," he said.