Butchibabu Gorantla is an Indian chartered accountant who was arrested in connection to the Delhi excise policy case on 8 February 2023.
Butchibabu Gorantla was born on Wednesday, 4 August 1982 (age 40 years; as of 2022) in Hyderabad, Telangana. His zodiac sign is Leo. He pursued a bachelor’s degree in commerce at Acharya Nagarjuna University, Guntur, Andhra Pradesh, FCS, Banking, Corporate, Finance, and Securities Law at The Institute of Company Secretaries of India, New Delhi and FCA, Accounting, Assurance, Taxation, Financial Management, Management Accounting (2003) at The Institute of Chartered Accountants of India. Noida.
Height (approx.): 5′ 5″
Hair Colour: Semi-bald (black)
Eye Colour: Black
Parents & Siblings
There is not much information available about his parents and siblings.
Wife & Children
The name of his wife is not known. He has two daughters.
In April 2002, he started working as the director of Cogent Professionals Pvt. Ltd, Hyderabad. In September 2007, he was promoted to the post of principal of the organization. On 16 February 2010, he was appointed the director of Halcyon Soft Solutions Private Limited. In March 2012, he joined Gorantla & Associates LLP, Hyderabad as the senior partner. On 15 October 2018, he was appointed as the director of Ram Mining (India) Private Limited. On 31 May 2021, he became the director of Inbisdekh India Private Limited. He works mainly on matters relating to corporate planning, strategy, funds rising and execution of projects. He specialises in cross-border transactions and business handling. He has a lot of work experience in information technology, pharmacy, manufacturing, banking and services sector business activities. He has 14 years of experience working on Income Tax and Indirect tax matters. He also works in high-net-worth individuals, family wealth management and corporate taxation.
Butchibabu was arrested by the Central Bureau of Investigation (CBI) on 8 February 2023 in connection to the Delhi Excise Policy case. The CBI stated that he was responsible for the formulation and implementation of the excise policy. They also accused him of helping wholesale and retail licensees and owners make profits under the 2021-2022 policy. According to the CBI, he was supported by a group, ‘South Cartel,’ consisting of Kavitha of Telangana’s ruling Bharat Rashtra Samithi, Magunta Srinivasalu Reddy, an MP from Andhra Pradesh’s ruling YSR Congress, and Sarath Reddy of Aurobindo Pharma. After the investigation, the ED stated that he was told about Vijay Nair, who was related to many powerful politicians and was arrested in the same case. In a statement, ED further talked about him and said,
Sarath brought Buchi Babu on board to guide him with finance and market analysis as Buchi babu was good with numbers. They all met at Kavita’s house on Road Number 14 in Banjara Hills. Arun had told Buchi Babu that Vijay Nair is the point of contact for the Delhi Liquor businesses. In the meeting, Vijay Nair said that the new policy had been drafted in a way that the Govt and businesses would all benefit, Sameer asked Buchi Babu to introduce him to Magunta Group to work for a retail JV. Following this Buchi Babu took Sameer to Magunta Srinivasulu Reddy’s residence cum office at Lodhi Road.”
- He is a fellow member of the Institute of Chartered Accountants of India and also a fellow member of The Institute of Company Secretaries of India.
- He was the former chartered accountant of Kalvakuntla Kavitha, daughter of the Chief Minister of Telangana, K. Chandrasekhar Rao.
- He is often spotted drinking alcohol on various occasions.