Andhra Pradesh Legislative Assembly
Andhra Pradesh Legislative Assembly

Andhra Legislative Assembly passes resolution for comprehensive probe on 'insider trading in Amaravati capital area'

ANI | Updated: Jan 22, 2020 18:07 IST

Amaravati (Andhra Pradesh) [India], Jan 22 (ANI): Andhra Pradesh Legislative Assembly on Wednesday passed a resolution for comprehensive investigation on 'insider trading in Amaravati capital area' in which several TDP leaders including former state chief minister N Chandrababu Naidu are allegedly involved.
Andhra Pradesh Home Minister Mekathoti Sucharitha has read the resolution in the Assembly.
The resolution comes a month after YSRCP government in the state received a report by the Andhra Pradesh cabinet sub-committee in connection with the case.

The sub-committee submitted its detailed report to Chief Minister YS Jagan Mohan Reddy as the state government was planning to initiate either a CBI, CBCID or Lok Ayukta inquiry into the matter.
The YSRCP has been alleging that TDP had misused power, indulged in insider trading and amassed wealth through corrupt practices in the name of Amaravati capital region.

Apart from Naidu, the report mentioned Vemuru Ravi Kumar Prasad, an NRI, who is a close associate of TDP leader Nara Lokesh, former minister Paritala Sunita, former MLA GVS Anjaneyulu, realtor Lingamaneni Ramesh, and TDP MLA Payyavula Kesav who were allegedly involved in insider training in the capital region.

The report also named Lanka Dinakar (presently in BJP), and TDP leaders Dhulipalla Narendra, Kambhampati Ramamohan Rao and Putta Mahesh Yadav.

The committee has found that "while choosing the capital area and defining its boundaries, a select group of people benefitted. People privy to the likely location allegedly purchased land in the region just prior to the formal declaration".

It also listed out how the lands in the capital region were procured by benamis of highly placed individuals.

"There were many irregularities in the land allotment and various laws were violated. Further, the then government cheated and intimidated assigned landholders in the land pooling scheme zone," the report alleged. (ANI)

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