FIR against YSRCP leaders claims ports firm was acquired illegally at Jagan Mohan Reddy’s behest
Kakinada Seaports’ Karnati Venkateswara Rao alleged that 40% of the company, worth Rs 2,500 crore, was forcibly acquired for Rs 494 crore through coercion.
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The Andhra Pradesh Crime Investigation Department has filed a first information report against three persons based on a complaint by Kakinada Seaports Limited’s chairperson that the company was forcibly acquired at the behest of former Chief Minister YS Jagan Mohan Reddy, The Indian Express reported.
The three people named in the FIR are YSR Congress Party’s Rajya Sabha MP V Vijayasai Reddy, YV Vikranth Reddy and P Sarath Chandra Reddy, the director of Aurobindo Pharma.
YV Vikranth Reddy is the son of the party MP YV Subba Reddy. P Sarath Chandra Reddy is the son-in-law of V Vijayasai Reddy.
Two companies – PKF Sridhar and Santhanam LLP and Aurobindo Realty and Infrastructure Private Limited – have also been named in the FIR.
The complaint was filed by Karnati Venkateswara Rao, the chairman and managing director of Kakinada Seaports Limited, on Monday.
Rao alleged that 40% of Kakinada Seaports Limited, worth Rs 2,500 crore, was forcibly acquired for Rs 494 crore through coercion and intimidation.
He also alleged that 49% of the Kakinada Special Economic Zone, valued at Rs 400 crore, had been forcibly acquired for Rs 12 crore. This was even as a multinational conglomerate had offered Rs 400 crore for the deal.
“This entire operation was planned and conducted to usurp my shareholding in KSPL and Kakinada SEZ and transfer...
