Heritage foods stoutly denies YSRCP allegetions

Hyderabad: Heritage Foods Limited, owned by the family members of AP Chief Minister N. Chandrababdu Naidu stoutly denied the charges made against it by the President of YSRCP Y.S. Jagan mohan Reddy and termed it +false and baseless propaganda made for political gainsa�?.

In a rejoinder issued by the President of the company,A� M. Sambasiva Rao, it was stated that Heritage Foods was functioning on sound principles of transparency and corporate governance. In this context it was pointed that Heritage Foods was recently awarded Golden Peacock Award in London by the Institute of Directors for Excellence in Corporate Governance. All the corporate actions of the company arte aimed at the welfare of farmers and the health of consumers.

Mr. Sambasiva Rao further said that the profitability of the company was a pointer to the efficient functioning and commitment, The company has been borrowing required funds from banks from time to time for its expansion and repaying debt on time The company is providing employment to more than 5000 directly and 15000 indirectly. Heritage Foods is growing on its own strength without availing any undue benefits like allotment of government lands, minerals, contracts from government, he quipped. (NSS).

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