Vijayasai Reddy alleged that the FIR filed against him by “some random casteist” was another cheap attempt by the state government headed by CM Naidu to divert attention from real issues plaguing the state.
Andhra police have filed a case against YSRCP Rajya Sabha MP V Vijaysai Reddy and Y Vikranth Reddy, son of another party member Y V Subba Reddy, for allegedly acquiring stakes in Kakinada Seaports Ltd (KSPL) and Kakinada SEZ (KSEZ) Ltd through “cheating, criminal intimidation, conspiracy” for a throwaway price in favor of Aurobindo Realty (since renamed as Auro Infra).
Senior YSRCP leader Kakani Govardhan Reddy said the action against his party colleagues was a “political vendetta.” Vijayasai Reddy alleged that the FIR filed against him by “some random casteist” was yet another cheap attempt of the state government headed by Chief Minister N Chandrababu Naidu to divert attention from real issues plaguing the State.
According to a complaint filed on Monday by Karnati Venkateswara Rao, Chairman and Managing Director of KSPL, his family-owned firms’ stakes of 41.12 percent in KSPL and 48.74 percent in KSEZ, estimated to be worth over Rs 3600 crore, were acquired in 2020-21 for little over Rs 500 crore.
In addition to Vijaysai and Vikranth, the FIR filed by the Andhra Pradesh CID also mentions Sarath Chandra Reddy, a Non-executive director of Aurobindo Pharma Ltd PKF Sridhar & Santhanam LLP and Aurobindo Realty and Infrastructure Pvt. Ltd, its Directors, and others under sections associated with “cheating, criminal intimidation, conspiracy” (Sections 506, 384, 420, l09, 467, 120(B) R/w 34 IPC and Sec. 111 BNS 2023).
